Africa: Flash - KQ Reports Operating Profit For The First Time In 6 years
- Client Site Administrator
- Sep 15, 2023
- 1 min read
Kenya Airways reports operating profit of Kshs 998 million for the first time in 6 years
KQ turnaround strategy starts to bear fruit as airline reports operating profit and increased revenues.
120% improvement in Operating Profit from the operating loss of Kshs 5 billion reported in a similar period in the previous year.
The Groups revenue grew by 56% to Kshs 75 billion.
Passenger numbers increased by 43% to 2.3million with an increase of 56% increase in Available Seat Kilometres (ASKs).
Operating costs increased by 40% due to the increase in activity, however gross profit increased by 131%.
Earnings before interest, tax and depreciation (EBITDA) grew by 7% points.
More Details to Follow.
Ends.
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