Kenya Airways posts cargo growth
Kenya Airways posted significant cargo growth last year
Crediting network expansion and an increase in frequencies, Kenya Airways boasted a 20 percent year-over-year cargo growth in the 2010 fiscal year. The carrier's cargo and courier service generated Ksh$6.5 billion last year.
Kenya Airways' total cargo tonnage ended the year up 2.2 percent, with a cargo operating margin of 6.8 percent.
“We have relentlessly pushed our reach to new and promising markets regardless of the increasingly competitive business environment,” Titus Naikuni, the carrier's CEO and group managing director, said in a statement. "Africa is the next frontier in the global economy, ripe for high growth supported by increased trade and rise in the number of tourism arrivals."
While the company's revenue rose, expenses also grew 16 percent year-over-year. This increase was attributed to extra employee costs, greater operating costs and the weak shilling.
After launching new routes last year, Naikuni said the carrier will open services to eight new cities in 2011 and 2012.
