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Browsing: Airports in Africa
- Kenya Airways losses for FY2023 have majorly stemmed from FX fluctuations.
- Despite the heightened operating costs, Kenya Airways achieved an operating profit of $79.4 million.
- International Air Transport Association (IATA) predicts full recovery of the aviation industry from the Covid-19 crisis in 2024.
Kenya Airways net losses for the trading period ending December 2023 have dropped to $171.6 million (KES22.7 billion) majorly attributed to the forex exchange losses suffered during the review period.
The latest result is a 41 percent reduction from the $289.6million (KES38.3 billion) reported in 2022 in what the airline attributes to continuing efforts aimed at navigating KQ’s back onto the path to profitability.
These losses stemming from fluctuations in currency exchange rates (FX Losses), impacted the airline’s financial position, posting the greatest drawback to its financials with $181.4 million loss.
Kenya Airways Chief Executive Allan Kilavuka said that in the review period the airline increased flight …
