He said losses for last year had been projected at Sh6 billion down from the Sh12.9 billion the previous year.
“We had planned to halve the loss through a number of initiatives including increasing our revenues, reducing our costs, streamlining things, introducing new products particularly cargo but Covid added Sh30 billion to that loss,” Joseph said.
He noted the airline incurred losses of up to $2 million (Sh219.6 million) per plane when flights were grounded in March last year.
With a fleet of 36 aircraft which includes nine Boeing 787 Dreamliners, 10-Boeing 737 aircraft, and 17 Embraers, it puts the total losses on aircrafts alone at about Sh7.91 billion last year, as fixed-costs remained high against low revenues.
The Kenya Airline Pilots Association (KALPA) and the Kenya Aviation Workers Union (KAWU) have both maintained that poor management is to blame for the year-in-year-out losses.
The airline has three chief executives at between 2017 and 2021, with the latest being Allan Kilavuka who took over from former Polish CEO Sebastian Mikosz.
The former president and CEO of LOT Polish Airline, one of the oldest airlines in the world, was hired on May 4, 2017 and exited in December 2019.
His more than 20 years of professional experience in managing private and public firms had been touted as the experience needed to steer KQ out of financial turbulence, but it remained in the red.
He had taken up from former CEO Mbuvi Ngunze who left in May 2017 after two years of a turbulent reign at the airline.
During his stint, Kenya Airways was rocked with strikes by pilots who wanted him and the then chairman Dennis Awori removed, with KALPA then accusing the two of mismanagement.
They both bowed to pressure and quit. Legendary manager Michael Joseph of Safaricom was appointed chairman.
Mbuvi had succeeded Titus Naikuni who left in 2014 after landing the top job in 2003.
Joseph on Wednesday however said management has remains committed in returning the airline to…