Kenya Airways revenue down 1.5%, operating profit down 54% in FY2010

Kenya Airways revenue down 1.5% - financial highlights for the three months ended 31-Mar-2010:

• Total revenue: USD864.0 million, -1.5% year-on-year;
  • Handling: USD16.0 million, +2.8%;
• Total costs: USD841.6 million, +1.6%;
• Operating profit: USD22.5 million, -54.5%;
• Profit before tax: USD32.6 million, compared to a loss of USD69.2 million in p-c-p;
• Net profit: USD24.9 million, compared to a loss of USD49.9 million in p-c-p;
• Passenger traffic (RPKs): stable;
• Passenger yield**: +1.9%;
• Cargo traffic: stable;
• Cargo yield: -17.1%. [more]

*Based on the conversion rate at USD1 = KES81.875

**In local currency

Kenya Airways: "The global economic recovery that is emerging in the West, Middle East and the Asian economies is expected to flow into Africa and the Kenyan economy. This should, in turn, improve the prospects for Kenya Airways in 2010 and beyond," Company statement. Source: Kenya Airways, 04-Jun-2010.