Kenya's National carrier Kenya Airways has posted a record breaking 29.7 billion shilling in loses before tax for the financial year ending 31st March 2015. This is a 51 percent drop compared to last years results where the airline recorded a loss of 4.8 billion shillings. According to the CEO Mbuvi Ngunze, the losses have been attributed to flat revenues, a large increase in fleet cost and an unrealised loss in the hedge The sub-Saharan Africa’s third-largest carrier, said it will seek a $200-million loan and sell assets after posting the biggest loss in the nation’s corporate history. The stock plunged to an 18-year low, to 5.60 shillings by 2:25 p.m. in Nairobi, heading for the biggest decline on record and to the lowest level since May 2003. The airline has appointed African Export-Import Bank as its financial adviser to raise long-term capital and refinance the business, Chief Executive Officer Mbuvi Ngunze told reporters T
Welcome to Aviation Tanzania! This is Tanzania's first aviation blog with over eight years now since its creation. Here you will find news and information related to aviation and hospitality industry. News and information covered here is collected from various sources globally.