Kenya Airways issues profit warning

Kenya Airways planes are seen parked at the Jomo Kenyatta International Airport near Nairobi, Kenya on March 6, 2019. PHOTO | THOMAS MUKOYA | REUTERS

National carrier Kenya Airways (KQ) has announced that it anticipates 25 per cent or more lower earnings for the period ending December 31, 2019 when compared to 2018, pointing to wider losses this year despite several cost cutting measures by the carrier.

In a notice signed by Kenya Airways Board Chair Michael Joseph, the troubled airline blamed the performance on stiff competition.