New aircraft budget weighs heavily on KQ

Kenya Airways (KQ) cut its net loss by 57 per cent last year, helped by increased sales and cheaper fuel, even as a heavy capital expenditure budget pointed to a sharp rise in the national carrier’s financing costs.

The national carrier Wednesday announced that its net loss for the year ended March 2014 had dropped to Sh3.3 billion from Sh7.8 billion reported in 2013.