KQ maintains steady path to recovery as it releases its half year 2022 results

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.