Kenya Airways reports higher annual revenue, smaller pretax loss

Illustrative picture. PHOTO CREDIT: SHIPS & PORTS archive

Kenya Airways reported a rise in annual revenue on Tuesday while trimming its pretax loss.

The airline, in which Air France-KLM holds a 7.8 percent stake, reported revenue of 114.45 billion shillings ($1.13 billion) for the 12 months to December 31, up from 106.17 billion a year earlier.

The company has changed to a calendar year from a financial year ending March 31.

Its pretax loss narrowed to 7.59 billion shillings from 9.44 billion.

The airline was forced to restructure $2 billion worth of debt in late 2017 after a slump in Kenyan travel following militant attacks.

Source: Reuters