• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Aviation

Kenya Airways’ liabilities rise to $845.5 million

3 years ago
in Aviation, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
165
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Kenya Airways’ liabilities rise to $845.5 million

Kenya Airways received $94.1 million (Sh11.3 billion) worth of loans from the National Treasury of Kenya, about half of the $166.7 (Sh20 billion) that was approved by the government during the period.

The airline has been receiving bailouts from the Kenyan treasury over the years, including $91.7 million (Sh11 billion) in 2020 and $116.7 (Sh14 billion) in 2021.

In July this year, an additional bailout of $300.1 million (Sh36 billion) was approved.

The National Treasury of Kenya has said that the bailouts are strategic investments by the government, after earlier plans to nationalise the airline faltered.

Meanwhile, the airline also disclosed that its current liabilities rose by $170.9 million (Sh20.5 billion) to $845.5 (Sh101.5 billion) during the half-year period.

According to information contained in the airline’s latest earnings report, as seen by Business Daily, items in the current liabilities include lease liabilities, advance ticket sales and trade payables.

RelatedPosts

The 10 Fastest-Growing Trading Nations in Africa

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

Note that current liabilities are typically debt instruments that must be settled within a fiscal year, albeit in cash.

On the other hand, Kenya Airways’ non-current liabilities (i.e., long-term debts) rose by $23.3 million (Sh2.8 billion) to $1.3 billion (Sh160.7 billion) during the period under review.

Recall that Business Insider Africa earlier reported that Kenya Airways reported a loss of $82.4 million during the half-year period ending June 2022, which marked a 4% reduction compared to a $95.9 million loss in half-year 2021.

The airline has been struggling to recover from its losing streak. The last time Kenya Airways reported a profit was in 2012. Since then, it has reported losses for over nine consecutive years.

And as a result of these losses, it has been relying on debts and government bailouts to sustain itself.

Source: businessinsiderafrica
Tags: Kenya AirwaysKenya Airways' liabilities rise to $845.5 millionNational Treasury of Kenya
No Result
View All Result

Highlights

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

Trending

Business

The 10 Fastest-Growing Trading Nations in Africa

August 23, 2025

The 10 Fastest-Growing Trading Nations in Africa Against the backdrop of shifting dynamics in global trade, several...

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

August 23, 2025

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

August 23, 2025

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.