National carrier Kenya Airways has posted record loss before taxation of Ksh29.7 b***ion, up from Ksh4.8 b***ion.
Financial results released today morning for the year ending June 30, 2015, s**w that the troubled airline had a turnover of Ksh110 b***ion for the year, the bulk of which was guzzled by direct operating expenses at Ksh76 b***ion and fleet ownership costs that amounted to Ksh25 b***ion.
This is the biggest loss in Kenya’s history and the amount almost equals Safaricom’s 2014 profit of Ksh32 b***ion. There were bad signs when Kenya Airways declared a Ksh12.5 b***ion pretax loss for the half-year ending September 2014. The government has intervened and given it a Ksh4 b***ion bailout. Below is the financial statement:
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