Kenya Airways reports higher annual revenue, what you need to know

PUBLISHED: Tue, 30 Apr 2019 13:15:38 GMT
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NAIROBI (Reuters) – Kenya Airways reported a rise in annual revenue on Tuesday while trimming its pretax loss.

The airline, in which Air France-KLM holds a 7.8 percent stake, reported revenue of 114.45 billion shillings ($1.13 billion) for the 12 months to December 31, up from 106.17 billion a year earlier.

The company has changed to a calendar year from a financial year ending March 31.

Its pretax loss narrowed to 7.59 billion shillings from 9.44 billion.

The airline was forced to restructure $2 billion worth of debt in late 2017 after a slump in Kenyan travel following militant attacks.

($1 = 101.3000 Kenyan shillings)

Reporting by Duncan Miriri; editing by Jason Neely

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