KQ loss widens to Sh21.7b due to forex, loan costs

Kenya Airways planes at the JKIA, Nairobi, on November 6, 2022. [Denish Ochieng, Standard]

Kenya Airways (KQ) has reported a Sh21.7 billion net loss for the half year to June 2023 compared to a Sh9.89 billion loss the carrier posted last year.

KQ said the loss was due to a weak shilling that resulted in high foreign exchange losses as well as increase in the cost of repaying foreign currency-denominated loans.