Kenya Airways has announced a full year loss before tax of Sh. 38.32 billion. The loss covered the financial year ended December 2022. The loss was more than double the Sh. 15.8 billion loss that the national carrier reported in the previous 2021 financial year.
KQ in 2021 had reduced its loss to Sh. 15. 88 billion from the record Sh. 36. 22 billion it had reported in the year to December 2020, with the improvement being on account of the reopening of airspaces globally after they had shut down to contain the spread of 2020 pandemic.
The national carrier has attributed the loss to the strike by its pilots that occurred in late 2022, the depreciation of the Kenya shilling and the high cost of fuel.
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Revenue for the year under review stood at Sh. 117 billion. This was a 66 per cent increase compared to the financial year 2021. Over head costs increased by 31 per cent while fuel cost increased by 160 per cent. During the year, KQ uplifted a total of 3.1 million passengers.
