NAIROBI (Reuters) -Kenya Airways more than halved pretax losses last year to 16.03 billion shillings ($139.63 million), it said on Tuesday, helped by growth in revenue and some cost savings.
Like other airlines around the world, the carrier was pummeled by the closure of airspace in 2020, as governments tried to contain the spread of the coronavirus.
Things started to turn around last year, Kenya Airways said, boosting revenue by a third to 70.22 billion shillings.
“We have seen a lot of markets opening,” Hellen Mathuka, the airline’s chief financial officer, told an investor briefing.
Total costs edged down 3.6%, she said, partly helped by the renegotiation of plane leasing contracts with leasing firms, which led to significant savings.
($1 = 114.8000 Kenyan shillings)
(Reporting by Duncan Miriri Editing by Kirsten Donovan and Mark Potter)
