Kenya Airways reports Sh4bn loss after tax

Kenya Airways CEO Sebastian Mikosz addresses the media on Wednesday. /COURTESY
Kenya Airways CEO Sebastian Mikosz addresses the media on Wednesday. /COURTESY

Kenya Airways has reported a

Sh4b loss after tax for the first six months of 2018.

This is an improvement from the Sh5.66bn posted in a similar period last year.

Releasing the half-year results

on Wednesday, CEO Sebastian Mikosz

attributed it to better usage of the fleet, more destinations, more cargo and more fleet.

Mikosz said the operating loss hit Sh1billion.

"The lowest earnings before interest and taxes

margins are in Africa, despite growth in GDP, the market is not growing. This is a signal that we need to analyze how the market is evolving," he said.

"Some of the key challenges we are experiencing are fuel prices, economic growth variation, volatile exchange rates and repatriation of funds."

Mikosz said they carried

2.3 million passengers, achieved a cabin factor of 75.9 per cent and on time performance of 82 per cent within the last 6 months.

In 2017, Kenya Airways cut its loss after tax by 21 per cent to Sh3.8 billion as at September 30, 2017.

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