Kenya Airways has cut its loss after tax by 21 per cent to Sh3.8 billion as at September 30, 2017, as announced in half-year results.
This is a slight improvement from the Sh4.78 billion net loss reported for the same period last year.
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Chief executive Sebastian Mikosz attributed the result to a 50 per cent rise in the airline's operating profit from Sh949 million to Sh1.4 billion
But KQ recorded a drop of 0.42 per cent in its revenue - from Sh54.75 billion in 2016 to Sh54.52 billion for the period under review.
The drop was despite a 3.3 per cent increase in passenger numbers
to 2.3 million.
"Political uncertainties following the Supreme Court ruling largely affected the operations, with the domestic and intra-Africa trade going down by about 50 per cent," Mikosz said.
The announcement comes days after the government converted the airline's debt into equity, giving it a controlling stake in the airline.
The conversion brought the government’s shareholding to 48.9 per cent, with Air France KLM owning 7.8 per cent, a drop from the initial 26 per cent.
The CEO noted discussions with KLM on reviewing their partnerships were ongoing.
Other shareholders now own 5.2 per cent while Kenya Airways lenders own 38.1 per cent.
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