Kenya Airways Announces 30.8% Improvement For Six Month Period Ending June 30th 2018

Kenya Airways Announces 30.8% Improvement For Six Month Period Ending In June 30th 2018
KQ Chairman Michael Joseph at the HY2018 Results Announcement

Kenya Airways PLC has today announced a 30.8 percent improvement in pre-tax results for the six month period ended June 30, 2018. This improvement has been attributed to passenger numbers which increased by 6.6 percent to 2.3 million, while cargo uplift increased by 13 percent to 31,973 tonnes over the same period last year.

Kenya Airways Announces 30.8% Improvement For Six Month Period Ending In June 30th 2018
KQ Chairman Michael Joseph at the HY2018 Results Announcement

The cabin factor increased by 2.8 points to 75.9 percent. Revenue increased by 3.1 percent due to increased passenger traffic and overall yield improvement. The direct operating costs increased by 13.9 percent due to increased pressure on global fuel prices.

The fleet costs reduced by 2.2 percent attributed to the fleet rationalisation completed in November 2017.

Kenya Airways Announces 30.8% Improvement For Six Month Period Ending June 30th 2018

Overall, the Group’s results improved by 30.8 percent from a pre-tax loss of Kshs 5,771 million in 2017 to Kshs 3,992 million for the period ended 30 June 2018.

“The business has remained resilient and is focused on delivering solid results. We continue to optimize the network to create more connections through our hub in Nairobi and in turn increase efficiency in order to reduce overall costs and return to profitability,” said Michael Joseph, Chairman Kenya Airways.

The Airline is focusing on the expansion of its network in a bid to cater for the growing needs of passengers and to strengthen its footprint in Africa.

During the period, Kenya Airways launched flights to Mauritius and non-stop flights to Cape Town, South Africa. The airline is in final preparations for its maiden non-stop flights to New York on October 28, 2018.

Kenya Airways Announces 30.8% Improvement For Six Month Period Ending June 30th 2018

During the Investors briefing held at the Intercontinental Hotel in Nairobi, the Chairman said that Kenya Airways was committed to enhancing its service delivery across all touch points with the aim of making it more authentic and true to its brand proposition.

The airline has revamped its catering service designed to elevate the guest experience. The new catering service has been rolled out across the airline’s network and will see Kenya Airways guests enjoy a memorable experience designed to reflect African authenticity, hospitality and simplicity. In collaboration with African chefs, the airline has introduced a new culinary experience with new menus that combine Kenyan ingredients and a touch of African flavours. Business Class passengers on long haul flights can enjoy a more personalized plated service. On short haul flights, passengers can enjoy easy takeaway boxes and a basket service.

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