Kenya Airways, one of Africa’s biggest carriers, said today it had swung back into profit for its full year which ended in March due partly to a favourable foreign exchange rate.
The firm which is 26% owned by Air France-KLM, reported pretax profit of 2.67 billion shillings from a loss of 5.66 billion shillings in the previous year.
“We are proposing a dividend of 1 shilling per share, which is the same as last year,” Alex Mbugua, group finance director, told investors.
He repeated that the company was in talks with Airbus over the purchase of Airbus 300-330s after delays with Boeing’s Dreamliner planes.
“We should be able to make up our mind by the end of this calendar year,” Kenya Airways Chief Executive Titus Naikuni said.
He said the firm planned to open nine new routes and increase the frequency of flights to some destinations like Kigali. It will also continue to modernise its fleet.
Pic: Kenya airplane