KQ eyeing narrow loss via low fuel costs and savings

Kenya Airways CEO Mbuvi Ngunze (right) said he expected transaction adviser PJT Partners to outline a plan for new debt and equity funds by the end of April.

NAIROBI: Kenya Airways expects an improvement in operating profit and narrower losses for the year ending in March. This is because of savings made by reducing the size of its fleet and lower fuel costs, its chief executive officer said.

Mr Mbuvi Ngunze also said the airline expects to receive the second $100 million (Sh10 billion) tranche of its $200 million (Sh20 billion) bridging loan within a month, part of a broader plan to keep the carrier flying after three and a half years of financial losses.