Kenya airways suffers financial loss amid covid restrictions

By ZBC Reporter

Kenya’s national carrier Kenya Airways says it will need at least $USD500 million to stay afloat since the company’s revenue in the first half of the financial year dropped by almost 50 %.

Like most African airlines, Kenya Airways was already in the red over the past few years, after the COVID-19 pandemic disrupted the industry.

The airline was forced to suspend both domestic and international flights. It only resumed international operations in August.

The carrier’s chief executive, Allan Kilavuka told reporters that the company probably lost about $USD100 million so far and based on the demand they project to lose about $USD400 million of revenue by the end of the year.

Before COVID-19 struck, the airline was flying to 55 destinations globally, carrying 4 million passengers annually.

Since international flights were resumed, it has been flying to about 30 destinations.

Kenya Airways generates 60% of revenue at the Jomo Kenyatta International hub in Kenya’s capital and largest city Nairobi.