Last Updated 13 years ago by Kenya Engineer
Kenya Airways has announced good performance for the first half year which ended on 30th Sept,2013 after incurring bad losses in a similar period the previous year.
The Ksh384 million profit after tax is attributed to the country’s robust business environment, favorable prices of jet fuel and also the stabilization of the Euro-zone economies. The profit comes prior to the previous year’s loss of up to Ksh4,788 million.
“The result produced a net profit margin of 0.7% compared to a loss margin of 9.6% in prior year”, says Chairman of the Board, Evanson Mwaniki in the report.
The performance is presumed to have been better were it not for the unfortunate fire incident at the Jomo Kenyatta International Airport (JKIA) that happened during what is traditionally a peak season for the airline. The incident slowed the traffic recovery by adversely affecting the flow of transit passengers.
The report comes at a time when the airline is increasing its fleet. The airline early this month welcomed their first Boeing 777-300ER,the first of its kind in Kenya (Read:Kenya’ largest air carrier adds a Boeing 777 to its fleet). The plane will allow for direct flights to China three times a week.
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