FILE PHOTO: Kenyan Airways planes are parked at the Jomo Kenyatta International Airport in Nairobi, Kenya, March 24, 2020. Picture taken March 24, 2020. REUTERS/Baz Ratner/File Photo Kenya Airways said on Friday it recorded a loss before tax of 14.4 billion shillings (about 133 million U.S. dollars) in the first six months to June 30.
Allan Kilavuka, CEO of Kenya Airways, told a virtual investor briefing that the six months have been extremely challenging for the airline because of the COVID-19 pandemic, which has severely impacted the aviation industry.
“It has been a tough year when we have faced unprecedented challenges. The situation continues to be difficult even as we gradually resume our operations, mainly due to the depressed demand for air travel, with recovery to 2019 levels expected to take between three to four years,” Kilavuka said.
“The scale of this challenge requires substantial change so we are in a competitive and resilient position to address the impact of COVID-19, withstand any longer-term reductions in customer demand and any economic shocks or events that could affect the airline,” he added.
The national flag carrier resumed domestic flights on July 15 and international flights on Aug. 1 after four months of suspended operations.
Kilavuka observed that the airline recorded 1.1 million passengers for the first six months compared to 2.4 million passengers transported over the same period last year.
Michael Joseph, Kenya Airways chairman, said that the global economic and geopolitical context remains uncertain due to the pandemic with many airlines having grounded their aircraft while others have instituted other drastic measures to survive.
Joseph said that the opportunity for Kenya Airways is to recalibrate and reset business to adapt and thrive in this new and unexpected reality moving forward.
