Kenya: KQ Bounces Back to Profitability With Sh513mn in H1

19 August 2024
Capital FM (Nairobi)
By Phidel Kizito

Nairobi — Kenya Airways (KQ) has announced a historic profit after tax of Sh513 million for the six months ending June 30, 2024.

Reduced exposures from foreign currency fluctuations and loan restructuring by the state helped grow the revenue.

Likewise, improved cargo and passenger businesses resulted in the net profit.

This represents a 102 percent rise compared to the Sh21.7 billion loss reported during the same period last year.

"We have had rough moments previously. These figures therefore are a testament to the power of what we can achieve when we work together," KQ chairman Michael Joseph said.

This is the airline's first positive half-year performance in a decade, signalling a major turnaround for the national carrier.

The national carrier also links the turnaround to a combination of operational efficiency improvements and a stronger global travel market.

Read the original article on Capital FM.

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