National carrier Kenya Airways has slashed its net losses by 60.9 per cent from Sh. 26.2 billion to Sh. 10 billion.
This was revealed as the carrier released its full year results for the financial year ended March.
Its operating costs fell by 41 per cent as it rebounded to an operating profit of Sh. 897 million from a loss of Sh. 4.09 billion.
Nonetheless, turnover fell to Sh. 106.3 billion from Sh. 116.2 billion recorded a year earlier.
Outgoing CEO Mbuvi Ngunze said that the airline had implemented 342 revenue generating and cost saving initiatives. Mr. Ngunze is set to be replaced by Polish national Sebastian Mikosz as the chief executive next Thursday.
