KQ to Announce Results on Thursday

National carrier Kenya Airways is set to announce its annual financial results on Thursday 14th June 2012. For the financial year 2010/2011, Kenya Airways posted a profit after tax of Shs. 3.5 billion up from Shs. 2.0 billion the previous period.

The airline had a rights issue in May where out of the 1.477 billion shares in offer, 70.06 percent of the shares were taken up by shareholders. The company attempted to raise KES 20.68 billion in what as the biggest cash-call in the country.

The Government of Kenya’s stake in Kenya Airways has reached 29.80 percent following its application to get its full entitlement of shares, this depending on confirmation from the Capital Markets Authority (CMA). KLM also applied for its full entitlement but its application was scaled down such that its shareholding in KQ will increase to 26.73 percent from the current 26 percent position.

The airline has embarked on a fleet expansion program that has seen it order nine state of the art Boeing 787 Dreamliner aircraft taking advantage of the growing market needs in the region.

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