National carrier Kenya Airways PLC (KQ) has released its Half Year financial results for the six months ending June 2022 at a virtual investor briefing. The Group’s total revenue stood at Kshs 48,104 million, recording a 76% increase compared to the same period last year. This increase is mainly attributed to a significant growth in passenger revenue which grew by 109%, and cargo revenue which increased by 18%.
During the first half of 2022, operations were positively impacted by pent-up demand and the removal of travel restrictions, resulting in a strong and sustained recovery in trading performance compared to a similar period in the prior year.
KQ uplifted a total of 1.61 million passengers during the period, an 85% improvement compared to the prior year’s 0.87 million passengers. This, however, remains 33% lower than the pre-pandemic period of 2019. Cargo tonnage increased by 39% compared to the same period in 2021, demonstrating continuous outstanding growth in air freight services.