Browsing: Kenya airways net loss

Kenya Airways (KQ) net loss for the first six months ended June 2020 widened by 67.3 per cent to $132 million due to grounding of flights as a measure to curb the spread of the COVID-19pandemic.

According to Kenya Airways, passenger numbers dropped by 55.5 per cent to 1.1 million compared to 2.4 million recorded over the same period in 2019, affecting its revenues.

According to KQ’s chairman Michael Joseph, the national carrier operations were severely affected by the pandemic resulting in depressed half-year results.

“The network activity from April to June was minimal due to travel restrictions and lockdowns effectively reducing operations to almost nil in connecting our home market to key cities.” He said

This year’s half-year loss is more than the carrier has been posting for the last three years.

In 2019, KQ posted a net loss of $120 million an increase from $70 million recorded in …