Kenya Airways slashed full-year operating losses to KSh6.8 billion ($59 million) during 2021, a reduction of 75%.<\/p>\n
It generated just over KSh70 billion in revenues over the 12 months to 31 December.<\/p>\n
But passenger numbers of 2.2 million were still 57% down on the pre-crisis figure in 2019, and capacity remained nearly two-thirds lower.<\/p>\n
Despite the \u201cmuted operations\u201d, the carrier says it achieved an improved performance owing to the easing of travel restrictions in some of its more important markets.<\/p>\n
Chief executive Allan Kilavuka insists the airline\u2019s management team is \u201ccommitted to strengthening our business and achieving profitability\u201d by focusing on sustainable operations \u201canchored around resilience, innovation, and diversification\u201d.<\/p>\n
\u201cWe are making investments in innovation, technology and other efficiencies that will give our employees the support they need to take care of our customers,\u201d Kilavuka adds.<\/p>\n
Kenya Airways chair Michael Joseph acknowledges that last year was \u201ca challenging one\u201d for the industry, with restrictions being lifted and re-imposed as it progressed. The emergence of the \u2018Omicron\u2019 variant of Covid-19, he says, \u201cdisrupted\u201d the recovery.<\/p>\n
\u201cRestructuring and transformation initiatives made during [2020] contributed immensely to the recovery during the second half of [2021],\u201d he adds.<\/p>\n
Although direct operating costs for the airline rose by a third last year, as a result of increased operations and higher fuel prices, Kenya Airways says its total operating costs fell by 3.6%.<\/p>\n