State carrier, Kenya Airways has been wallowing in financial turmoil, as full year loss before tax for the pandemic period ending 31st December 2020 rose by a historic 64.5%.
36.57 billion in a year air travel demand was crashed, while the Airline passenger traffic was reduced to levels last seen in 1999, wiping out 21 years of airline passenger traffic.
“Total passengers capacity measured in Available Seat Kilometers (ASKs) declined by 68.4% to 5.3 billion from 16.7 billion in 2019, with the cabin factor decline to 65.3%, 11.7% points lower than 2019,” Joseph stated.
128.2 billion in 2019, though cargo volume lifted the airline from further revenue losses as it ramped up cargo operations and attained new customers and penetrating new sectors.
KQ projects a difficult operating environment at least for the next three years.
“During this time, Kenya Airways will ensure it operates the right sized network, continuously improve customers experience and continue to drive cost optimization while maximizing revenue generation.”
