KQ halves losses as its stock closes at a year high at the NSE

Kenya Airways posted a Sh4.7 billion loss in half year results ended September 30, 2016 down from Sh11.9billion posted in the same period last year.

 

The airline also recorded a Sh0.9 billion operating profit for the first six months ended September 30, compared to an operating loss of Sh2.2 billion in the previous period.

"Operation Pride"

According to the airline, the improvement of its operating performance was as a result of growth in cabin factor by 3.3 per cent during the period, with an increase in passenger numbers from 89,000 to 2.2 million and lower operating costs made by fleet rationalisation in line with the recovery strategy ‘Operation Pride’.

The strategy focuses on closing the profitability gap, refocusing the business model as well as optimising the capital of the company.

At the same time,  the airline’s stock closed at its highest level since August last year on Wednesday, October 26, 2016  at Sh6.75 a share.

This follows the announcement of the election of ex-Safaricom CEO Michael Joseph as its new board chairman.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

First ever tour inside 6-bedroom mansion Mzee Moi lived in [Video]

First ever tour inside 6-bedroom mansion Mzee Moi lived in [Video]

Guys, here are 5 major reasons why women get tired of dating you

Guys, here are 5 major reasons why women get tired of dating you

Muthoni Drummer Queen announces pregnancy, explains why she kept it a secret [Photos]

Muthoni Drummer Queen announces pregnancy, explains why she kept it a secret [Photos]

Rare twin elephant calves born in Samburu

Rare twin elephant calves born in Samburu

5 ways to test if the honey you're buying is pure or fake

5 ways to test if the honey you're buying is pure or fake

Let’s face it: Is cheating always the fault of the cheater?

Let’s face it: Is cheating always the fault of the cheater?

Big breasts? Here's the best way to dress

Big breasts? Here's the best way to dress

Comedian YY and girlfriend welcome a bouncing baby girl

Comedian YY and girlfriend welcome a bouncing baby girl

DK Kwenye Beat & wife reveal daughter’s face for the 1st time after a year [Photos]

DK Kwenye Beat & wife reveal daughter’s face for the 1st time after a year [Photos]