The Board announces that Kenya Airways has maintained profitability in the first half of the 2008/09 financial year, albeit less than the corresponding period last year. Profit after tax for the period reviewed ended at KShs 736m with an operating margin of 4.7% compared to KShs 1,972m and an operating margin of 11.3% during the corresponding period last year. 

The aviation industry has continued to face major challenges arising from fuel prices which hit an all time high of USD 147 per barrel in July 2008.  This has resulted in a majority of airlines posting losses whilst pushing others into filing for bankruptcy.  The escalating fuel prices have also seen the collapse of several airlines and IATA, the global industry body, projects airlines worldwide will make a combined loss of USD 5.2bn in 2008 and USD 4.1bn in 2009. 

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