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Kenya Airways Records Ksh36.57 Billion Loss Before Tax

National carrier Kenya Airways (KQ) as recorded a Ksh36.57 loss before tax in the financial year ended December 2020.

Revenues for the cash strapped carrier dipped by more than half during the period, even as lockdown measures to reduce the spread of Covid-19 took toll on business. The revenue shrunk by 59 percent to Ksh52.8 billion from Ksh128.3 billion in 2019.

The loss is almost three times the loss recorded in 2019 of Ksh13 billion, worsening hopes of a recovery plan for the carrier that is in place.

During the period under review, KQ ferried 1.8 million individuals in contrast to 5.2 million in the preceding year, a development that saw passenger revenues shrink by Ksh69.9 billion.

The airline’s basic loss per share jumped to Ksh6.22 in 2020 from Ksh2.23 in 2019.

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