The carrier experienced a substantial uptick in revenue, which soared 53 percent to Ksh178.5 billion, marking the first substantial growth in operating profit since 2017.
This impressive performance, which saw the net loss narrow by 40.6 percent to Sh22.6 billion in the year ended December, is a major vote of confidence to KQ's Chief Executive Officer
"These figures underscore the airline's remarkable performance throughout the year, indicating our steadfast trajectory towards recovery," said Mr Kilavuka.
Mr Kilavuka further outlined the company's near-term focus on finalising a capital restructuring plan aimed at reducing the company's financial leverage and reinforcing liquidity.
However, Mr Kilavuka noted that the pre-tax loss was primarily attributed to a sharp decline in the Kenyan shilling, resulting in loan revaluation losses.
Nonetheless, he expressed optimism, highlighting improvements in the currency's performance and anticipating a positive impact on the carrier's bottom line.
Operating costs during the review period surged to Ksh167 billion from Ksh122.4 billion, reflecting a 37 percent increase in running expenses.
He said the results underscore the operational viability of the airline business, affirming that management's ongoing efforts to restore profitability were yielding positive outcomes.
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