COVID-19: Kenya Airways anticipates $500m loss this year

Kenya Airways has taken a commercial battering in recent years

COVID-19: Kenya Airways anticipates $500m loss this year

Kenya Airways expects to lose over $500m (£405m) this year as a result of business disruption caused by the coronavirus pandemic.

The airline says it expects to have to make painful decisions, including laying off staff and selling off key assets, besides seeking to secure more than $70m in an emergency bailout to stay afloat.

CEO Allan Kilavuka told the BBC that a restructuring plan is awaiting board approval, with the company working on a strategy to diversify its business away from passengers to cargo.

The airline recorded a $122m net loss in 2019 attributed to higher operating costs. (BBC)