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Kenya Airways back in profit for full year
Posted on Friday, June 04, 2010 @ 06:18:55 CDT by kwpnews


NAIROBI (Reuters) - Kenya Airways, one of Africa's biggest carriers, said on Friday it had swung back into profit for its full year ended March due partly to a favourable foreign exchange rate.

The firm, which is 26 percent owned by Air France-KLM, reported pretax profit of 2.67 billion shillings from a loss of 5.66 billion shillings in the previous year.

"We are proposing a dividend of 1 shilling per share, which is the same as last year," Alex Mbugua, group finance director, told investors.

He repeated that the company was in talks with Airbus over the purchase of Airbus 300-330s after delays with Boeing's Dreamliner planes.

"We should be able to make up our mind by the end of this calendar year," Kenya Airways Chief Executive Titus Naikuni said.

He said the firm planned to open nine new routes and increase the frequency of flights to some destinations like Kigali. It will also continue to modernise its fleet.

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