Browsing: KQ

African Airlines Revenues

New forecast expects African airlines to suffer $500M net loss

Countries
  • Airlines across Africa are expected to fly into a combined $500 million loss this year. The loss is, however, an improvement from the combined $800 million loss suffered in 2022.
  • African airlines have to navigate several economic, infrastructure, and connectivity challenges.
  • Data shows Egypt, Morocco, and Ethiopia carriers have seen an increase in traveler numbers in March 2023.

African airlines are expected to fly into a combined $500 million loss this year. The projected loss is, however, a significant improvement from the $800 million combined loss sustained last year.

According to the International Air Transport Association (IATA), Africa remains a difficult market for airlines.

African Airlines smarting from pandemic

Companies have to navigate several economic, infrastructure, and connectivity challenges. These hurdles continue to significantly impact the industry, which is still smarting from the Covid-19 economic fallout.

Last year was a rough period for African airlines in the skies.…

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KQ narrows its half year loss to KSh 9.88 billion as total revenues rise

Business
  • Kenya Airways (KQ) narrowed its half-year loss to KSh 9.88 billion, less than the KSh 11.48 billion loss it reported in the same period in 2021.
  • Kenya Airways (KQ) has revealed that its total revenue rose to KSh 48,104 million in the six months ending June 2022, recording a 76 per cent increase compared to the same period last year
  • KQ said the increase is mainly attributed to significant growth in passenger revenue, which grew by 109 per cent, and cargo revenue which increased by 18 per cent

Kenya Airways (KQ) narrowed its half-year loss to KSh 9.88 billion, less than the KSh 11.48 billion loss it reported in the same period in 2021.

During the review period, the airline revealed that its total revenue rose to KSh 48,104 million in the six months ending June 2022, recording a 76 per cent increase compared to the same period last year.…

Cash-strapped KQ and South Africa Airways Partner to Revive Fortunes

Aviation
  • Benefits of the agreement include strategic positioning in global aviation and diversification of earning streams
  • The Kenyan carrier said it remains committed to its financial turnaround strategy
  • The deal comes at a time when SAA has just resumed operations after an 18 month hiatus

Kenya’s national carrier Kenya Airways (KQ) and South Africa Airways (SAA) have entered a memorandum of cooperation with a longer-term view to co-starting a Pan-African Airline Group that in time will enhance mutual growth potential between the two carriers.

In a statement, KQ said the cooperation aligns with core purpose of ‘Contributing to the sustainable development of Africa’.

The airline added that the agreement would be based on mutual benefits, including strategic positioning in global aviation, diversifying earning streams, and reinforcing regional partnership in Africa through diplomatic and commercial relations.

These benefits are expected to translate into an increase in passenger traffic, cargo opportunities, and general …

Kenya Airways Unveils Centre to Mentor Startups

Africa

Kenya’s national carrier Kenya Airways has launched a centre which it says will be used to mentor the youth.

In a statement, the company says the centre, dubbed ‘Fahari Innovation Hub’, will act as a springboard for new ideas and data-driven innovations to accelerate impact-driven solutions that address some of the societal and business challenges.

Kenya Airways Chief Executive Officer, Allan Kilavuka said the Fahari Innovation Hub has already been operating virtually for about one year.

He added that with the setting of a physical workspace, the hub will provide a centre for strategic innovation management offering opportunities for co-creation, collaboration, networking, research, and learning.

“At the pace at which change accelerates, especially now in the middle of a global pandemic, we have become increasingly aware of the need to be innovative as we position the business as a resilient, forward-looking and sustainable company with a deliberate inclusive agenda of …