2 June 2011

Kenya: KQ Posts 73.9 Percent Increase in Profits

Kenya Airways has reported a 73.9 per cent jump in net profits for the year ending March 31, helped by an aggressive expansion to new routes and increase in flight frequencies.

The national carrier profits after tax rose to Sh3.5 billion from Sh2 billion in 2010 having carried 3.1 million passengers compared to 2.8 million in 2009.

"We have relentlessly pushed our reach to new and promising markets regardless of the increasingly competitive business environment," said Titus Naikuni, the airline's chief executive officer.

The directors have recommended a Sh1.50 dividend payout per share - a 50 per cent increase on last year's pay.

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