The national carrier Kenya Airways has cut its losses by 41 per cent to Sh22.7 billion majorly attributed to losses that came about due to the the depreciating of the shilling against major currencies.
The latest result is a drop from the Sh38.3 billion reported in 2022 which the airline attributes to continuing efforts aimed at bringing the KQ on the recovery path.
Kenya Airways Chief Executive Allan Kilavuka said that in 2023 the airline posted Sh24 billion forex losses despite having increased flight frequencies by 24 per cent and a capacity increase of 44 per cent.
The Airline's Total Income also posted a 53 per cent rise from Sh116.8 billion in the last financial year to Sh178.5 billion in 2023.
Operating costs on the other hand rose to Sh167 billion from Sh122.4 representing a 37 percent increase in running expenses.
