Kenya Airways' profits surge in 1HFY2011

Kenya Airways reports the following financial highlights for the six months ended 30-Sep-2010 (Business Week/All Africa, 05-Nov-2010):

• Revenue*: USD511.8 million, +23% year-on-year;
  • Passenger: USD455.9 million, n/a;
  • Cargo: USD37.3 million, n/a;
• Profit before tax: USD26.1 million, +66.8%;
• Net profit: USD17.4 million, +62.8%;
• Passenger numbers: 1.5 million, +6.7%.

*Based on the conversion rate at USD1 = KES80.5

Kenya Airways reported passenger numbers in southern Africa rose 20% due primarily to the soccer World Cup while passenger traffic in central Africa also rose by 20% due to new operations in Malabo, Libreville and Bangui and passenger traffic in northern Africa increased 16% following the carrier's

Kenya Airways: "Kenya Airways, riding on a strong industry up-cycle, achieved positive growth during this period and successfully launched new destinations including Muscat, Juba and Luanda," Titus Naikuni, CEO. Source: All Africa, 05-Nov-2010.