KQ sinks further into the red with Sh26.2b loss

National carrier Kenya Airways (KQ) has announced a Sh26.2 billion loss for the year ended March 2016. The airline had in 2015 announced a full year loss of Sh25.7 billion.

The loss comes despite efforts to turnaround the airline with revenues up five percent to Sh116 billion. The airline also reduced its operating loss from Sh16.3 billion to Sh4.1 billion during the period.

Speaking while releasing the results, Kenya Airways Chief Executive Officer Mbuvi Ngunze remained optimistic the airline had laid the groundwork needed to take the airline back to profitability.

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