Kenya Airways first-half pretax loss falls 15% from last year

Kenya Airways made a pretax loss of 9.861 billion shillings ($82.35 million) in the first half of the year, a 15% improvement from last year’s 11.542 billion shilling loss, it said on Wednesday.

Revenue rose 76% in the first half of 2022 compared to the first half of 2021, but operating costs increased 53% over the same period.

Kenya Airways executives told a briefing that fuel prices were a major cost driver in the first half of 2022.

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The latest period’s pretax loss would have been 3.328 billion shillings with last year’s fuel prices, they said.