Kenya Airways has reported a nett profit after tax for the first time since 2013.
For the first half of the financial year ending June 30, the airline achieved a profit after tax of KES513 million (R70,5 million) compared with a loss of KES21,7 billion (R3 billion) in H1 2023.
The improved performance comes from a 22% increase in revenue over HI in 2023. The airline said higher passenger numbers had driven revenue for H1, 2024, to KES91,5 billion (R12,6 billion).
The airline experienced a 10% increase in passenger numbers, a 16% improvement in capacity measured in ASK, and 14% growth in demand, measured in RPK.
While operating costs rose by 22% due to new routes and increased capacity, overhead expenses were reduced by 22%.
Over the last decade, the airline has accumulated huge debts, exacerbated by the global pandemic. They have been partially dealt with by Kenya’s National Treasury, to assist the carrier’s recovery.
