Kenya Airways recently disclosed that it expects an even significantly huge loss for the year 2022, this is in comparison to what it made in the year 2021.
The airline provided a profit warning this recent weekend .The warning stated that the company expects its earnings to be at most 25 percent lower in the period coming to an end December 2022, compared to a similar period the previous year. The airline endured a loss of Sh15.88 billion in the year ending December 2021.
The airline also added that as it indicated a growth in their profits during the year since traveling continued to improve after a long period of lockdown, a weak shilling caused the carrier register foreign exchange losses that wiped out gains it had recently made in reducing the losses.
The airline had reduced its loss to Sh15.88 billion in the year 2021 from the whopping Sh36.22 billion it had recorded in the year to December 2020, the reopening of airspaces globally after the worldwide shutdown is the being given credit prior to the advancements.
Instead of the government coming in handy it added that it would cease the cash injections it had been giving the airline once the year 2023 comes to an end.
Despite the crisis it is enduring currently ,KQ is still keeping its head up hoping that it can turn the losses to profits by the end of the year 2023.
By Denzel S. Ondijo
