The new Kenya Airways Boeing 777-300ER that was launched by President Uhuru Kenyatta at the JKIA in Nairobi on November 4. KQ shares hit a new all-year high during Tuesday’s trading ahead of the release of the national carrier’s half year’s results on Wednesday. Photo/SALATON NJAU
What you need to know:
Kenya Airways (KQ) shares hit a new all-year high during Tuesday’s trading ahead of the release of the national carrier’s half year’s results
The airline’s shares hit a high of Sh13.70 during trading at the Nairobi Securities Exchange before closing at Sh13.45
KQ's share has gained 17.98 per cent when compared to Sh11.40 the opening price at the start of this year.
Kenya Airways (KQ) shares hit a new all-year high during Tuesday’s trading ahead of the release of the national carrier’s half year’s results on Wednesday.
The airline’s shares hit a high of Sh13.70 during trading at the Nairobi Securities Exchange before closing at Sh13.45.
On Friday, KQ released its quarter two performance results for the three months to September this year which showed no change in its passenger numbers compared to a similar period the previous year.
The airline’s passenger numbers remained at 1.012 million. The domestic market was the only one to mark double digit growth with 232,960 passengers, while all other markets – Europe, Africa, Middle East and Far East – recorded a marginal drop.
KQ blamed the Eurozone debt crisis and security fears in the country that have seen Western governments issue travel alerts for its reduced passenger traffic.
The national carrier posted a loss of Sh7.86 billion in the year to March compared to a profit of Sh1.66 billion last year.
Kenya Airways is however looking to earn millions of shillings from the government’s move to bar public servants from using other carriers on domestic and foreign travel, in additional to cost-cutting measures it is undertaking.
The cost cutting measures include use of fuel efficient planes like the recently acquired Boeing 777-300 ER -the airline’s largest aeroplane.
Kenya Airways shares had closed at Sh13.45, having gained 17.98 per cent when compared to Sh11.40 the opening price at the start of this year.
