Geza Ulole
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- Oct 31, 2009
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KQ extends record after tax loss to Sh26.2bn
Kenya Airways sinks deeper into the red with a net loss of Sh26.2bn for the year ending March 2016.
Thursday July 21 2016
A Kenya Airways plane at the Jomo Kenyatta International Airport in Nairobi. PHOTO | FILE | NATION MEDIA GROUP
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By VICTOR JUMA vjuma@ke.nationmedia.com
Kenya Airways announced a record net loss of Sh26.2 billion in the year ending March, widening the Sh25.7 billion net loss it posted the year before.
KQ, as the airline is popularly known by its international code, suffered from a Sh9.7 billion foreign exchange loss and an acceleration of other costs, including interest expenses.
Its revenue increased to Sh116.1 billion from Sh110.1 billion in the same period, trailing the increase in costs. The loss also saw the national carrier set a new record in wiping out shareholders’ equity, with the company’s net worth now at a negative Sh35.6 billion from the previous negative Sh5.9 billion.
KQ extends record after-tax loss to Sh26.2bn
Kenya Airways widens record net loss to $258.3 million
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A Kenya Airways plane at the Jomo Kenyatta International Airport in Nairobi. PHOTO | FILE
By VICTOR JUMA
Posted Thursday, July 21 2016 at 09:07
Kenya Airways announced a record net loss of $258.3 million (Ksh26.2 billion) in the year ended March, widening the Ksh25.7 billion (around $251 million) net loss the year before.
KQ, as the airline is popularly known, suffered from a Ksh9.7 billion ($96 million) foreign exchange loss and an acceleration of other costs including interest expenses.
Its revenue increased to Sh116.1 billion ($1.1 billion) from Ksh110.1 billion in the same period, trailing the increase in costs.
The loss also saw the national carrier set a new record in wiping out shareholders’ equity, with the company’s net worth now at a negative Ksh35.6 billion ($351 million) from the previous negative Ksh5.9 billion (around $58 million).
Kenya Airways widens record net loss to $258.3 million
MY TAKE
IMHO this is the right time for JPM to invest in ATCL as KQ is struggling big time so can not fend off ATCL entrance in the market that much!
nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11
Kenya Airways sinks deeper into the red with a net loss of Sh26.2bn for the year ending March 2016.
Thursday July 21 2016
A Kenya Airways plane at the Jomo Kenyatta International Airport in Nairobi. PHOTO | FILE | NATION MEDIA GROUP
Advertisement
By VICTOR JUMA vjuma@ke.nationmedia.com
Kenya Airways announced a record net loss of Sh26.2 billion in the year ending March, widening the Sh25.7 billion net loss it posted the year before.
KQ, as the airline is popularly known by its international code, suffered from a Sh9.7 billion foreign exchange loss and an acceleration of other costs, including interest expenses.
Its revenue increased to Sh116.1 billion from Sh110.1 billion in the same period, trailing the increase in costs. The loss also saw the national carrier set a new record in wiping out shareholders’ equity, with the company’s net worth now at a negative Sh35.6 billion from the previous negative Sh5.9 billion.
KQ extends record after-tax loss to Sh26.2bn
Kenya Airways widens record net loss to $258.3 million
A Kenya Airways plane at the Jomo Kenyatta International Airport in Nairobi. PHOTO | FILE
By VICTOR JUMA
Posted Thursday, July 21 2016 at 09:07
Kenya Airways announced a record net loss of $258.3 million (Ksh26.2 billion) in the year ended March, widening the Ksh25.7 billion (around $251 million) net loss the year before.
KQ, as the airline is popularly known, suffered from a Ksh9.7 billion ($96 million) foreign exchange loss and an acceleration of other costs including interest expenses.
Its revenue increased to Sh116.1 billion ($1.1 billion) from Ksh110.1 billion in the same period, trailing the increase in costs.
The loss also saw the national carrier set a new record in wiping out shareholders’ equity, with the company’s net worth now at a negative Ksh35.6 billion ($351 million) from the previous negative Ksh5.9 billion (around $58 million).
Kenya Airways widens record net loss to $258.3 million
MY TAKE
IMHO this is the right time for JPM to invest in ATCL as KQ is struggling big time so can not fend off ATCL entrance in the market that much!
nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11
