The national carrier Kenya Airways (KQ) is in a deep financial doldrum given the latest profit KSh 36.6 billion profit loss.
The KQ chief executive officer Allan Kilavuka said the airline currently needs KSh 54.9 billion for it to survive the turbulent 2021.
Speaking to Spice FM on Thursday, March 25, Kilavuka defended the airline’s profit loss for the financial year which ended in December 2020 saying no competitor in the world made any profit.
"The KSh 36.6 billion KenyaAirways loss is not a surprise, there is not an airline in the world that did not make a loss last year. KQ has the people to resolve the position and get better over time. We need KSh 54.9 billion dollars this year to survive," he stated. COVID-19 pandemic
In a statement on its Twitter handle, the KQ noted it experienced a tough year due to depressed demand for air travel amid the COVID-19 pandemic that temporarily halted its operations. “It has been a tough year where 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.” Source: Tuko Kenya