27th October, 2016
Kenya airways' has said its pretax loss has narrowed sharply in the six months through September as it made an operating profit, raising hopes that the struggling carrier may be beginning to turn a corner. Chief executive officer Mbuvi Ngunze said that the carrier, which is also partly state owned, made an operating profit of 0.9 billion shillings ($8.9 million) for the six months ended in September, compared with a loss of 2.2 billion shillings in the same period in 2015. Kenya airways has been implementing a recovery plan drawn up by U.S consultancy firm McKinnsey dubbed ‘operation pride’ focusing mainly on cutting costs and improving the operational efficiency of the airline. During the six month period, revenues dipped slightly to sh54 billion but managed to realize increased passenger traffic with 2.2 million passengers flown.