Kenya Airways reduced operating costs and overheads in 1HFY2016

Kenya Airways reported (11-Nov-2015) total direct operating costs decreased 17.3% year-on-year to KES34.8 billion (USD340.4 million) in 1HFY2015/16 driven by the rationalisation of operations and reduced fuel prices. Overheads decreased 7.6% to KES11 billion (USD107.6 million) driven by cost reduction and containment efforts. The carrier recorded an increased foreign exchange loss of KES4.8 billion (USD46.9 million) due to depreciation of the shilling and other currencies against the US dollar. [more - original PR]