Kenya Airways Flies into turbulence with worst performance ever


30 Jul 2015 | by
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Kenya Airways Flies into turbulence with worst performance ever

Kenya Airways recorded an all time low recording a net loss of Shs 25.7 billion in its 2015 full year results from a net loss 3.3 billion in the year 2014...............

Kenya Airways recorded an all time low recording a net loss of Shs 25.7 billion in its 2015 full year results from a net loss 3.3 billion in the year 2014. This is the lowest ever recorded loss for a Kenyan company and for the airline that is considered the pride of Africa to a 661% fall in just one year.

This announcement by the firm comes after the government injected Sh 4.2 billion into the national carrier that is meant to see it back into profitability. The firm attributed its losses to competition from the Middle East airlines, travel advisories and terrorism.

The airline is however optimistic after its re-entry into the West African market even as it seeks financial assistance from to the tune of $200 million (Sh 20 billion) from Afrexim Bank that will help refinance the business.

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