Kenya Airways posts a pretax loss of 12.5 bln shillings in H1
Thu Nov 13, 2014 5:37am GMT
Print | Single Page
[-] Text [+]

NAIROBI Nov 13 (Reuters) - Kenya Airways reported a pretax loss of 12.5 billion shillings ($138.97 million) in the first half of the year, ending in September, from a profit of 548 million shillings a year ago, its finance director said on Thursday.

The carrier, which is part-owned by Air-France KLM , blamed lower passenger yields during the period and higher fleet costs for the loss.

http://www.reuters.com/article/...ys-idUSL6N0T30AB20141113

waiting for the counter to pull a MMS

sema financial haemorrhage!!

they only have 4.5 millions in cash and cash equivalentsvs 11billion last year. hiyo si nI petty cash ya mdosi mmoja. how will they pay their debts.

what a nasty legacy by naikuni.

well said.

What is happening to KQ is a reflection of what is happening in kenya.
We are becoming an over capacity country.
KQ buying newer,bigger expensive planes before looking at whether passengers are there.
We are talking about 5000 mw yet industries to consume that power are not there and we don't know whether they will be there.
SGR viability was also brought into question.
All these are being funded by loans and the question is where will the money to repay the loans while ensuring the firms are profitable when the market is not known