KQ announces improved financials, says strike threat unjustified

What you need to know:

The firm announced its net loss for six months to September fell to Sh5 billion.
The airline has released advance extracts of its financial results (before their official release on October 27) in an attempt to counter a strike threat issued by its pilots.
KQ says threatened Industrial Action by pilots is unjustified in the wake of improved financials.

National carrier Kenya Airways has announced that its net loss for the six months to September stands at Sh5 billion, a 58.3 per cent improvement from the Sh12 billion that the airline reported in a similar period last year.

KQ, as the airline is known by its international code, says its operating profit during the half-year improved by Sh2 billion boosted by an increase of 89,000 in passenger numbers to 2.23 million.

The airline has released advance extracts of its financial results (before their official release on October 27) in an attempt to counter a strike threat issued by its pilots.

The Kenya Airline Pilot Association (Kalpa), an association made up of about 450 pilots, has threatened to down its tools on October 18 if the KQ chief executive Mbuvi Ngunze and chairman Ambassador Dennis Awori don’t resign.

READ: KQ pilots in fresh strike notice, demand exit of top management

Stop ticket sales

“The threatened Industrial Action called for by Kalpa is unjustified and uncalled for. It is also has no basis and is outside the scope of Kalpa’s collective bargaining agreement,” the airline said in a statement.

“The threatened action is already costing Kenya Airways significant losses as passengers have begun to make cancellations immediately the action was published.

“If Kalpa does not forthwith retract its statement, Kenya Airways will have to immediately stop selling tickets on its network, given the costs associated with selling tickets and not carrying these passengers.”