Kenya Airways has posted a record post tax loss of Sh26.2 billion for the year that ended March 31.
This was an increase from the Sh. 25.7 billion posted the previous year.
KQ had a Sh5 billion fuel burn-off benefit after selling its Boeing 737-300. The carrier’s passenger numbers rose in by five per cent in 2015 from 4.17 milliom the previous year to 4.23 million. Acting finance director Dick Murianki said: “We had borrowed short term loans at expensive rates. Our financing costs went up 53.7 per cent.”
ts revenue increased to Sh116.1 billion from Sh110.1 billion in the same period, trailing the increase in costs. The loss also saw the national carrier set a new record in wiping out shareholders’ equity, with the company’s net worth now at a negative Sh35.6 billion from the previous negative Sh5.9 billion.