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KENYA AIRWAYS ANNOUNCES Sh5.9 BILLION NET LOSS IN 2018

Kenya Airways CEO Sebastian Migne

Kenya Airways net loss for the year ended December 2018 has widened by 17.76 per cent to $77.36 million from $63.78 million in 2017

KQ management has however been quick to point out that the 2018 figures cannot be directly compared to 2017 since the former covers 12 months compared to the 9 month period covered in 2017 financial report.

“This, therefore, means that the 2018 results are not directly comparable with the 2017 results as it is a representative of 12 months against the 9 months in 2017,” Chairman Michael Joseph said.

Kenya Airways loss after tax was Sh5.9 billion losses for 2018 up from the Sh5.1 billion in 2017.

The management has attributed the loss to high fuel costs.

KENYA AIRWAYS LIABILITIES

According to the airline’s 2018 financial report, current liabilities exceeded current assets by Sh101.540M.

KENYA AIRWAYS TOTAL REVENUE

According to the total revenue for the year grew to Sh114.4 billion compared to Sh80.7 billion in 2017 mainly boosted by growth in passenger revenue from Sh63.9 billion the previous year to Sh88.7 billion.

TOP MOST READ BOOKS IN KENYA 2018

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