Kenya Airways posted its first interim net profit in over a decade during the first six months of the year, as revenues increased by more than one-fifth.
The SkyTeam carrier made a net profit of KSh513 million ($3.9 million) for the six months ended 30 June, against a loss of KSh21.7 billion at the same stage last year. The carrier says this marks its first profit after tax for the period since 2013.
Kenya Airways had in 2023 posted its first interim operating profit for six years and this year boosted operating profit for the first half by a further 30%, to almost KSh1.3 billion.
Kenya Airways chief executive Allan Kilavuka says: “Our financial results are a clear indication that our strategic initiatives are delivering the desired outcomes. We have focused on strengthening our core operations, enhancing our customer service, and exploring new avenues for growth.
”This performance positions us in good stead to navigate the challenges of the aviation industry and prepare for future growth.”
Profit was built on revenues climbing 22% to KSh91.5 billion, itself reflecting a 10% jump in passenger numbers to 2.5 million on an additional 16% of capacity. Operating costs rose in line with the higher revenue, but its net performance was improved by a sharp reduction in other costs.
