La compagnia affiliata a SkyTeam e posseduta per 1/4 da AF-KL ha intenzione di espandere il network nel prossimo futuro, per voce del proprio CEO.
Tra le nuove 9 destinazioni di KQ per l'anno fiscale 2010/2011 anche Roma.
Attualmente KQ in Europa collega Londra, Parigi e Amsterdam.
Kenya Airways to expand after turns to year profit
04.06.2010
By Duncan Miriri
NAIROBI (Reuters) - Kenya Airways said it was expanding its services as the emerging global recovery would give the company a boost this year after a gain on fuel derivatives pushed it back into the black for the year to March.
Kenya Airways, one of Africa's largest carriers and 26 percent owned by Air France-KLM, said on Friday it expected the economic recovery seen in other parts of the world would flow into Africa and Kenya would benefit this year.
The airline has had good growth since the first half of 2000 on the back of new routes to underserved African markets from its Nairobi hub and it plans to expand even more.
Chief Executive Titus Naikuni said Kenya Airways would start services to nine destinations including Rome and Juba in South Sudan. The airline is also considering increasing the flight frequency on some routes like Kigali and positioning Accra as a west African hub.
"We still believe that Africa is where our mainstay is. It is where potential is," Naikuni said.
The company's revenue in the 2009-2010 year dropped slightly due to a 11 percent decline in income from its cargo business but turned to a pretax profit from a loss a year ago due to a 6 billion shilling boost from its fuel hedges, which it uses to balance future costs, after a 7.5 billion shilling loss the previous year.
It also benefited from a weaker shilling against the dollar.
At 1000 GMT, Kenya Airways' shares were down 4.4 percent at 54.50 shillings.
"The results whilst commendable did not hit investors' admittedly elevated baseline expectations, and hence the profit taking bias this Morning," said independent analyst Aly Khan Satchu.
FLEET MODERNISATION
CEO Naikuni confirmed the airline was in discussions with Airbus about purchasing A330s after further delays in Boeing's much anticipated B787 Dreamliner jets.
Kenya Airways had ordered nine Dreamliners with an option for a further four, but they are not due for delivery until May 2013, which has prompted it to talk to Airbus about the A330 aircraft, Naikuni said.
"We should be able to make up our mind (about whether to buy A330s) by the end of this calendar year," he said.
He also said Kenyan horticulture producers, whose exports to Europe account for a significant portion of the airline's freight business, should consider exporting to other African markets.
Exports were hit when much of European airspace was closed due to an ash cloud from a volcano in Iceland.
The airline is watching the progress of European carriers' demands for some form of compensation from the European Union for losses accrued during the airspace closure in April, Naikuni said.
"We are looking at it and in the event that window is open, we will follow the others," he said.
He also said Kenya Airways was discussing code sharing agreements with several airlines like Qantas and China Southern.
The company posted a 2.67 billion shillings pretax profit for the period from a loss of 5.66 billion shillings in the previous year on revenue of 70.74 billion shillings, down from 71.83 billion.
It proposed maintaining a dividend of one shilling.
http://af.reuters.com/article/investingNews/idAFJOE65303120100604?pageNumber=3&virtualBrandChannel=0
Kenya Airways flies back into profit
BY MICHAEL KARANJA
Updated 2 hours 29 minutes ago
NAIROBI, Kenya Jun 4 - National carrier Kenya Airways has returned to profitability with a 147 percent increase in pre-tax profit for its full year ended March 2010.
During the year, the airline posted a profit of Sh2.67 billion compared to the previous year where it recorded a Sh5.66 billion loss.
Speaking at an investor briefing on Friday, KQ Group Finance Director Alex Mbugua attributed the recovery to stable foreign exchange and steady recovery in the aviation industry.
“The strong US dollar and relative weakening of the Kenya shilling had a positive effect on foreign currency denominated revenues when reported in Kenya shillings,” Mr Mbugua said.
The average exchange rate for the period was at Sh76.67 per US dollar compared to Sh71.23 recorded the previous year.
During the period, turnover declined by 1.5 percent to Sh70 billion from Sh71 billion mainly due to an increase in overhead costs that were up by Sh3.4 billion. Sh2.1 billion of the increase was attributed to salaries and allowances.
Wages during the year totaled Sh10.17 billion up from Sh8 billion.
Kenya Airways Chief Executive Titus Naikuni said the company would employ a number of cost-control measures to bring it down.
“The whole area of manpower costs is becoming a challenge for us because if you are spending about 65 percent of your overheads on salaries it’s challenging so we have got to find ways to make sure we control it,” Mr Naikuni said.
The impressive results have given KQ the confidence to consider introducing nine routes in the 2010/2011 financial year. The routes include Jeddah, Rome, Lome, Luanda and Juba (Monday) among others.
The nine routes will add to the already impressive 49 destination the airline flies.
Along with the new routes, KQ plans to increase flight frequencies on a number of routes where it sees potential. It has already lined up triple daily flights for Kigali and Johannesburg as well as additional flights to Bujumbura.
“We still believe Africa is where our mainstay is,” Mr Naikuni said when asked where he saw potential growth.
But even as the airline plans to increase its flights, it is still dogged by challenges in its fleet modernisation efforts.
KQ had ordered nine B787 Dreamliners from Boeing due to be delivered in 2010 but the aircraft manufacturer has handed a three-year delay to that delivery.
“Five B787 are currently undergoing test flights but the performance data is not ready. The talks we have had with Boeing indicate that those new aircrafts may be delivered in 2013,” Mr Naikuni said.
Kenya Airways has already entered into negotiations with Airbus for nine A330s due to the ongoing delays.
“In the event Boeing does not meet our expectation fair enough we will go to Airbus,” he said.
The Board of Directors has proposed a dividend of Sh1 per share, which is the same as last year representing a total dividend payment of Sh462 million.
Read more: http://www.capitalfm.co.ke/business...lies-back-into-profit-4272.html#ixzz0ptl562IS
Under Creative Commons License: Attribution Non-Commercial No Derivatives
Tra le nuove 9 destinazioni di KQ per l'anno fiscale 2010/2011 anche Roma.
Attualmente KQ in Europa collega Londra, Parigi e Amsterdam.
Kenya Airways to expand after turns to year profit
04.06.2010
By Duncan Miriri
NAIROBI (Reuters) - Kenya Airways said it was expanding its services as the emerging global recovery would give the company a boost this year after a gain on fuel derivatives pushed it back into the black for the year to March.
Kenya Airways, one of Africa's largest carriers and 26 percent owned by Air France-KLM, said on Friday it expected the economic recovery seen in other parts of the world would flow into Africa and Kenya would benefit this year.
The airline has had good growth since the first half of 2000 on the back of new routes to underserved African markets from its Nairobi hub and it plans to expand even more.
Chief Executive Titus Naikuni said Kenya Airways would start services to nine destinations including Rome and Juba in South Sudan. The airline is also considering increasing the flight frequency on some routes like Kigali and positioning Accra as a west African hub.
"We still believe that Africa is where our mainstay is. It is where potential is," Naikuni said.
The company's revenue in the 2009-2010 year dropped slightly due to a 11 percent decline in income from its cargo business but turned to a pretax profit from a loss a year ago due to a 6 billion shilling boost from its fuel hedges, which it uses to balance future costs, after a 7.5 billion shilling loss the previous year.
It also benefited from a weaker shilling against the dollar.
At 1000 GMT, Kenya Airways' shares were down 4.4 percent at 54.50 shillings.
"The results whilst commendable did not hit investors' admittedly elevated baseline expectations, and hence the profit taking bias this Morning," said independent analyst Aly Khan Satchu.
FLEET MODERNISATION
CEO Naikuni confirmed the airline was in discussions with Airbus about purchasing A330s after further delays in Boeing's much anticipated B787 Dreamliner jets.
Kenya Airways had ordered nine Dreamliners with an option for a further four, but they are not due for delivery until May 2013, which has prompted it to talk to Airbus about the A330 aircraft, Naikuni said.
"We should be able to make up our mind (about whether to buy A330s) by the end of this calendar year," he said.
He also said Kenyan horticulture producers, whose exports to Europe account for a significant portion of the airline's freight business, should consider exporting to other African markets.
Exports were hit when much of European airspace was closed due to an ash cloud from a volcano in Iceland.
The airline is watching the progress of European carriers' demands for some form of compensation from the European Union for losses accrued during the airspace closure in April, Naikuni said.
"We are looking at it and in the event that window is open, we will follow the others," he said.
He also said Kenya Airways was discussing code sharing agreements with several airlines like Qantas and China Southern.
The company posted a 2.67 billion shillings pretax profit for the period from a loss of 5.66 billion shillings in the previous year on revenue of 70.74 billion shillings, down from 71.83 billion.
It proposed maintaining a dividend of one shilling.
http://af.reuters.com/article/investingNews/idAFJOE65303120100604?pageNumber=3&virtualBrandChannel=0
Kenya Airways flies back into profit
BY MICHAEL KARANJA
Updated 2 hours 29 minutes ago
NAIROBI, Kenya Jun 4 - National carrier Kenya Airways has returned to profitability with a 147 percent increase in pre-tax profit for its full year ended March 2010.
During the year, the airline posted a profit of Sh2.67 billion compared to the previous year where it recorded a Sh5.66 billion loss.
Speaking at an investor briefing on Friday, KQ Group Finance Director Alex Mbugua attributed the recovery to stable foreign exchange and steady recovery in the aviation industry.
“The strong US dollar and relative weakening of the Kenya shilling had a positive effect on foreign currency denominated revenues when reported in Kenya shillings,” Mr Mbugua said.
The average exchange rate for the period was at Sh76.67 per US dollar compared to Sh71.23 recorded the previous year.
During the period, turnover declined by 1.5 percent to Sh70 billion from Sh71 billion mainly due to an increase in overhead costs that were up by Sh3.4 billion. Sh2.1 billion of the increase was attributed to salaries and allowances.
Wages during the year totaled Sh10.17 billion up from Sh8 billion.
Kenya Airways Chief Executive Titus Naikuni said the company would employ a number of cost-control measures to bring it down.
“The whole area of manpower costs is becoming a challenge for us because if you are spending about 65 percent of your overheads on salaries it’s challenging so we have got to find ways to make sure we control it,” Mr Naikuni said.
The impressive results have given KQ the confidence to consider introducing nine routes in the 2010/2011 financial year. The routes include Jeddah, Rome, Lome, Luanda and Juba (Monday) among others.
The nine routes will add to the already impressive 49 destination the airline flies.
Along with the new routes, KQ plans to increase flight frequencies on a number of routes where it sees potential. It has already lined up triple daily flights for Kigali and Johannesburg as well as additional flights to Bujumbura.
“We still believe Africa is where our mainstay is,” Mr Naikuni said when asked where he saw potential growth.
But even as the airline plans to increase its flights, it is still dogged by challenges in its fleet modernisation efforts.
KQ had ordered nine B787 Dreamliners from Boeing due to be delivered in 2010 but the aircraft manufacturer has handed a three-year delay to that delivery.
“Five B787 are currently undergoing test flights but the performance data is not ready. The talks we have had with Boeing indicate that those new aircrafts may be delivered in 2013,” Mr Naikuni said.
Kenya Airways has already entered into negotiations with Airbus for nine A330s due to the ongoing delays.
“In the event Boeing does not meet our expectation fair enough we will go to Airbus,” he said.
The Board of Directors has proposed a dividend of Sh1 per share, which is the same as last year representing a total dividend payment of Sh462 million.
Read more: http://www.capitalfm.co.ke/business...lies-back-into-profit-4272.html#ixzz0ptl562IS
Under Creative Commons License: Attribution Non-Commercial No Derivatives
