Kenya Airways net losses for the year ended December 2018 rose to Sh5.9 billion from Sh5.1 billion. Even so, the airline’s management has defended the increase, stating that financial year 2018/19 covered 12 months compared to nine months the previous year. "This therefore means that the 2018 results are not directly comparable with the 2017 results as it is a representative of 12 months against the 9 months in 2017," Chairman Michael Joseph said. KQ, as the airline is known by its international code saw its current liabilities exceed current assets by 106.42 billion compared to Sh101.5 billion the previous financial year. Even so, the total revenue for the year grew to Sh114.4 billion compared to Sh80.7 billion in 2017 mainly boosted by growth in passenger revenue from Sh63.9 billion the previous year to Sh88.7 billion.

Source: The Star April 30, 2019 07:19 UTC