National Carrier Kenya Airways(KQ) has recorded a 120 percent profit after tax increase to Kes 198 million in the six months ending June 2023.
This is compared to the Kes 5 billion loss recorded in a similar period in 2022.
KQ has attributed the growth to a cabin factor of 76.1 percent, an increase in passenger numbers of 43 percent, representing 2.3 million in headcount over the period, and passenger charters and ramped-up scheduled operations.
KQ’s Chief Executive Officer (CEO), Allan Kivaluka, noted that the financial recovery comes from the coronavirus lockdown measure that ground to a halt its business.
Further, he has agreed that the airline’s new strategy improved its income.
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“These results confirm the operational viability of the airline. We have enhanced our customer experience at different touchpoints, the reliability and availability of our aircraft have significantly improved.”
The national carrier’s revenue also expanded by 56 percent to Kes 75 billion in the review period.
“These exceptional figures underscore the airline’s outstanding performance during the period and offer encouraging indications of ongoing recovery and turnaround initiatives that have been put in place by management to return the airline to profitability are bearing fruit,” KQ chairman Michael Joseph added.
The airline, however, faces challenges, among them legacy debts and loans.
