Kenya Airways (KQ) has announced a positive move in its equity position which now stands at Ksh 417 million compared to a negative Ksh 45 billion for the year March 2017.

The national airline has recorded an increased operating profit of Ksh 1.3 billion as well as a reduction in loss after tax of Ksh 6.1 billion for the nine months to December (April 2017- Dec 2017), down from the Ksh 10 billion recorded in the full previous year.

KQ’s management has attributed the Sh loss to the prolonged electioneering period, which affected travel into Kenya and also high fuel costs.

“2017 started on a good note but was later affected by the political climate in the country from August into the end of the year. However, we recorded improvements in our numbers.” Chairman, Michael Joseph

The airline notes that domestic flights reduced by 20%. KQ carried 3.4 million passengers in 2017.

Kenya Airways CEO, Sebastian Mikosz while releasing the airlines results during an investor briefing on Wednesday, said that KQ’s business strategy in 2017 was focused on these key tenets; network expansion, cost efficiency approach, the winning market and revenue optimization.

“Our network expansion included increased frequencies to Cape Town. We also launched our Victoria falls route and the NRB-NY non-stop flight,” Mikoszt said.

Part of KQ’s restructuring involved changing its year end from March to December to match other airlines.

“Our results today will cover April-December 2017 as we have changed our financial year from the previous March-April to January-December going forth,” said Michel Joseph.

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