Allan Kilavuka, the chief executive officer of Kenya Airways (KQ), announced that Kenya’s national airline decreased its losses to 9.86 billion shillings ($82.166 million) in the first half of this year (ending in June) from 11.49 billion shillings ($95.75 million) posted during a similar period last year.
According to KQ CEO, the improved performance was mainly due to significant growth in passenger and cargo revenue in the H1 2022.
“During the first half of 2022, operations were positively impacted by pent-up demand and the removal of travel restrictions, resulting in a strong and sustained recovery in trading performance compared to a similar period in the prior year,” Kilavuka said during the official release of Kenya Airways ‘ half-year financial results report.
Kenya’s national carrier’s total revenue stood at $401 million, an increase from $228 million recorded during the first half of last year.
KQ CEO said that the airline sector is currently undergoing a gradual recovery from the travel curbs that were put in place to counter the spread of the global coronavirus pandemic.
“Our focus is to ensure that we strengthen our operational resilience through innovation and diversification to deliver great and reliable services to our customers. We have transformed the airline during the pandemic, enabling us to emerge with renewed strength, underpinned by a product, network, and service that customers value,” Kilavuka added.
Kenya Airways Chairman Michael Joseph said that the reopening of borders around the world allowed some key travel markets to rebound quickly.
Kenya Airways flew a total of 1.61 million passengers from the January-June period of the year – an 85% improvement compared to the same period in 2021, while cargo tonnage rose 39% compared to the same time period of last year, highlighting continuous strong growth in air cargo services.
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