National carrier Kenya Airways has posted a sh6.1 billion from April to December last year. The company revealed this as it announced changes in its financial year calendar to go along with the regular calendar.
The company’s management has blamed the incurred losses on high fuel costs on a worldwide and the prolonged election period that riddled the country for the better part of last year.
The cost of fuel, which is the second largest expenditure for the airline after salaries, ascended by 14 per cent in the approximately 9 month period.
The company has however expressed optimism for 2018 owing to a planned rollout of flights between Nairobi and New York on a daily basis commencing this October.
It also announced plans for direct nonstop flights Johannesburg and Mauritius.Kenya airways also intends to introduce economy comfort class in the next 13-15 months in a bid to grow revenue.
This information was availed by KQ chief executive Sébastian Mikosz,during an interview with the nation adding that the full impact of the changes will felt in the 2019 financial year as they seek to increase revenue by 8 to 10 percent.