Kenya Airways reports fall in total revenues but surge in cargo income

Kenya Airways, the East African country’s national flag carrier, released its financial results for the first half of this year (1H21) in a virtual investor briefing on Thursday afternoon. The group’s total revenues, of 27.35-billion Kenya shillings (Kshs), represented a 9% decrease (apparently, half-on-half, not year-on-year). This was the result of national and international measures aimed at containing the Covid-19 pandemic, which significantly reduced the number of passenger flights the airline could operate.

“During the period, the company’s main focus was, and still is, cash conservation,” affirmed Kenya Airways board chairperson Michael Joseph . “The company has exploited opportunities of raising much needed revenue through passenger charters and ramped up cargo operations. Other initiatives undertaken by management include partnerships with other airlines, lease rentals re-negotiations, payment plans with suppliers and partial deferment of staff salaries.”

While passenger revenues in 1H21 came to Kshs 20.23-billion, which was a 17% decline, cargo revenues shot up 60%. “The Group has been able to uplift an increased 500 [t] monthly, showing its cargo division’s outstanding agility in adapting its operations to provide air freight services in this new environment,” stated the airline.

“Notwithstanding the current global crisis brought about by [the] Covid-19 pandemic, we will continue to adopt an agile approach in responding to the current dynamic marketplace,” said airline MD and CEO Allan Kilavuka . “Our focus is on business recovery and to continue contributing to the rebuilding of economies and communities impacted by the pandemic. Restoring customer confidence for business and leisure travel will be key to growing demand, as well as creating agile and nimble business models that are sustainable and responsive to the customer’s needs.”

To subscribe email or click here
To advertise email or click here

Comment Guidelines

Stay in the Know!

Sign up for the latest news and information on African Companies and Economy.

By signing up, you agree to receive MoneyInAfrica offers, promotions and other commercial messages. You may unsubscribe at any time.

Leave a Reply