Kenya Airways earnings expected to decline 25% for 2019

Kenya Airways announced (17-Dec-2019) the company's earnings for 2019 are expected to decline 25% year-on-year based on the forecast financial results for the year ending 31-Dec-2019. Kenya Airways said profitability has been constrained by competition in the airline area of operations, which has led to increased pressure on pricing in order to remain competitive. The adoption of new IFRS 16 rules has also required significant adjustments to both the profit and loss statements and balance sheets for 2019. [more - original PR]