Tuesday, May 28, 2024
Kenya Airways holds its 46th AGM virtually

Kenya Airways holds its 46th AGM virtually

Kenya Airways PLC (KQ) held its 46th Annual General Meeting (AGM) attended by its shareholders virtually. The AGM led by Kenya Airways board chairman, Michael Joseph, was the company’s third virtual AGM that presented to the shareholders a review of the audited financial results and business performance for the year ending 31st December 2021.

According to Joseph, the KQ business outlook remained optimistic as the financial performance improves despite prevailing challenges. “2021 saw KQ get on a path to recovery as evidenced by the improved financial performance. We continued to deliver on our commitments, and because of the actions taken, we made significant progress from the impact of COVID-19. We are emerging as a better balanced and more resilient business with a sustainable future focused on the long-term business opportunities presented by the global aviation industry.”

2021 saw the Group’s total revenue increase by 33% to Kshs. 70,221 million despite the resurgence of various COVID-19 variants and travel bans in different countries. The Group uplifted a total of 2.2 million passengers during the year, a 25% increase compared to the prior year, while the cargo business uplifted 63,726 tonnes, recording an improvement of 29% over 2020. In addition, the group reduced costs by 3.5% and reduced lease rentals for the aircraft by Kshs. 10 billion.

Picture of James Graham

James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.

Newsletter

Stay informed. Stay ahead. To get the latest air cargo news and industry trends delivered directly to your inbox, sign up now!

related articles

TIACA launches the conference program and venue for the TIACA Event – Central Asia

Menzies Aviation launches a new independent Executive Aviation brand Pearl

WFS Chosen to operate first centralised air cargo examination station at JFK