Kenya Airways swung to an operating profit of 10.53 billion shillings ($80.38 million) in 2023 after a loss the previous year, it said on Tuesday. It was the airline's first operating profit since 2017, it said, buoyed by a 53% increase in revenue to 178.5 billion shillings.
The revenue growth was underpinned by a 35% increase in passenger numbers, Kenya Airways said.
The airline posted a pretax loss, however, as a steep weakening of the Kenyan shilling led to loan revaluation losses.
The shilling has started to strengthen against the dollar, meaning the outlook for this year is more positive, CEO Allan Kilavuka said.
Kenya Airways