u dont have any idea how airlines operate just shut TF up
Kenyan carrier becomes first in Africa to sign parts and services deal with Boeing
Kenyan carrier becomes first in Africa to sign parts and services deal with Boeing
- Thread starter willyTrinidad
- Start date
Geza Ulole
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- Oct 31, 2009
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U want evidence? After the lenders absorbed all the KQ debts via share exchange;
AFRICATECH
MARCH 21, 2018 / 9:24 AM / 4 MONTHS AGO
Kenya Airways says 9-mth pretax loss at 5.97 bln shillings
Reuters Staff
NAIROBI (Reuters) - Kenya Airways reported on Wednesday nine-month pretax loss of 5.97 billion shillings ($59.03 million) and an after tax loss of 6.1 billion shillings, hurt by a prolonged election period in the country and rising fuel prices.
Kenya Airways planes are seen parked at the Jomo Kenyatta International Airport. REUTERS/Thomas Mukoya/File Photo
Nine-month operating profit stood at 1.3 billion shillings, acting Chief Financial Officer Hellen Mwariri said.
Kenya spent most of 2017 conducting elections, which in addition to effects of drought, hit economic growth.
The elections contributed to a 20 percent drop in domestic traffic, including in its East Africa markets, said Chief Executive Sebastian Mikosz.
The airline, which is changing its financial year to match the calendar year, said passenger numbers stood at 3.4 million in the nine months to end-December.
The airline completed a $2 billion debt restructuring in November as part of revival plans after a drop in Kenyan travel and high financing costs on new Boeing jets resulted in the country’s biggest ever corporate loss - 26 billion shillings - in its 2016 financial year.
Kenya Airways reported pretax loss for the full year to end March 2017 of 10.2 billion shillings, while after tax loss was 9.96 billion shillings. Operating profit was 897 million shillings.
($1 = 101.1000 Kenyan shillings)
Reporting by George Obulutsa and Omar Mohammed; Editing by Biju Dwarakanath
Kenya Airways says 9-mth pretax loss at 5.97 bln shillings
MY TAKE
Waiting for 4rd quarter results the loss must have rosen to $100mln.
willyTrinidad
JF-Expert Member
- Jul 14, 2018
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- #23
You are talking about March during disputed elections. Tuko August, economy is souring, Kenya mbele iko sawa
Geza Ulole
JF-Expert Member
- Oct 31, 2009
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While minting losses like no one business!
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
U made over $100 mln loss in 2017! And this year u r making a loss again. I can assure u in the next 10 years will KQ still mint losses.
willyTrinidad
JF-Expert Member
- Jul 14, 2018
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- #26
My take Kenya airways books are only improving. Let’s wait tuone kati ya ATCL na KQ who will survive in this business. Hii biashara si ya watu clueless kama ********
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
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Mad man responding to himself