Kenya Airways(KQ) Saw Operating Costs Increase 93% In 2022

The deployed capacity in Available Seat Kilometers (ASKs) increased by 75%, ending 2022 at 10.3 billion compared to 5.9 billion in 2021. As a result, the passenger load factors were only 3.9% below the load factors achieved before the pandemic.

Speaking at the investor briefing, Kenya Airways Chairman Michael Joseph said that global air passenger traffic gained momentum and recovered sustainability as governments lifted COVID-19 travel restrictions and passengers grasped the opportunity to resume travel, which was reflective of KQ’s performance. He added;

“In 2022, KQs operations were impacted positively by pent-up travel demand, the removal of travel restrictions and KQs efforts to increase frequencies across its network resulting in a strong and sustained recovery in performance compared to a similar period in the prior year. As a result, global passenger traffic recovered from 41.7% of 2019 levels in 2021 to 68.5% in 2022.”

Losses recorded in 2022

In 2022, the airline also recorded significant losses. Financial performance was impacted by the devaluation of world currencies against the dollar, an increase in fuel prices, and forex losses due to the current financial restructuring. KQ’s direct operating costs increased by 93% due to the increase in operations.