Kenya Airways posted a pretax loss of Sh 7.59 billion shillings in the year ended December 2018.
This comes after the national carrier which is 7.8% owned by Air France KLM made a 6.30 billion shillings loss in April- December 2017, which stretched to 9.4 billion when adjusted to a full result year.
The company changed its reporting period last year to coincide with the calendar year from the past when its financial year ran to the end of March.
According to Kenyan Air Ways Chairman Michael Joseph, there is hope that the company will do better in 2019 as there is improvement note from 2018.
“What we needed to do in 2018 was to consolidate and hence it was a good year for us. I foresee going forward that 2019 will be a challenging year for us but we are excited of what the year could be” noted Kenya Airways Chairman Michael Joseph.
KQ increased its routes by 3 in 2018 while increasing on its weekly flights to continental destinations including Nigeria, Entebbe, Congo Brazaville, the Democratic Republic of Congo, Mombasa and Cape Town.
Further to growth in expansion, the carrier continues to pursue investments in digital distribution and productivity improvement to further business operations efficiency.
By Maureen Koome