Isn't 3b pbt in 2H a tad too optimistic all factors considered especially the hedging bit which could be a wild card. I was thinking more in the range of a 15b loss before tax on fy assuming the sale of land and old fleets are booked in the current year.

Q1 PBT in KES 'B
KCB 6.5 Actual 6.2
EQTY 6.2 Actual 6.1
SCBK 4.4 Actual 2.5
COOP 3.9 Actual 4.5
BBK 3.6 Actual 3.1
DTB 2.76 Actual 2.27
CFC 2.6 Actual 1.6
NIC 1.86 Actual 1.4
NBK 0.5 Actual 0.7
HFCK 0.35 Actual 0.32

13 B

9.5B loss.. Anything more than that either by default or design, and the share shall touch KES 2

KQ had a 12.5bn Loss Before Tax for 1H 2014-15.
Where did the turnaround 'profit' of 3bn in 2H come from?
@Obiero says the loss is 9.5bn which means KQ has to make 3bn in 2H PBT from 12.5bn it lost in 1H.

Let's assume @obiero meant 9.5bn Loss After Tax. Then KQ still needs a 1bn PAT in 2H to hit that number. Furthermore, if the 'profit' is from Asset Sales not Operations then the picture just gets murkier!

http://www.businessdaily.../-/f7fxtez/-/index.html

Kenya Airways has reported an after-tax loss of Sh10.5 billion for the half year to September 30 — Sh12.5 billion - before an income tax credit