Kenya Airways has announced an operating profit of Sh900 million, bringing net loss down to Sh4.78 billion for the half year ended September 30. Financial statements showed the loss was down to Sh7.13 billion from Sh11.95 billion posted in the same period last year. It was also attributed to lower operating costs made possible by fleet rationalisation in line with the ‘Operation Pride’ recovery strategy. Fleet ownership costs reduced by 35 per cent to Sh8.49 billion from Sh13.14 billion. The airline reduced its direct operating costs by Sh2 billion to Sh32.8 billion due to fuel prices.

Source: The Star October 27, 2016 08:06 UTC