Kenya Airways customers lost Sh4.26 billion last year on failing to use their tickets within the allowed window.
The airline discloses in the latest annual report covering the financial year ended December 2023 that it booked the amount as revenue in its books of accounts, marking a 54.3 percent rise from the Sh2.76 billion it received from expired tickets in the previous financial year.
The airline sells tickets in advance and books the value, net of discounts and taxes, as current liabilities in the ‘sales in advance of carriage’ account. This figure is reduced either when KQ or a partnering airline completes the transportation or when the passenger requests a refund.
