Kenya Airways has announced a Sh900 million operating profit that translates to a fall in the net loss down to Sh4.78 billion in the half-year period ended September 30.
According to KQ financial statements, the loss went down to Sh7.13 billion from the initial Sh11.95 billion that was posted last year in the same period.
Kenya Airways Chief Executive Mbuvi Ngunze said that the reduction in loss was necessitated by the increase in passenger numbers from 89,000 to 2.2 million.
“The business is taking steps in the right direction,” Ngunze told an investor briefing on Thursday morning.
The reduction in losses was also attributed to the company's lower operating costs enhanced by fleet rationalisation which was in line with the recovery strategy dubbed ‘Operation Pride’.