KQ said it was able to conserve more than Sh6.5 billion last year following moratoriums it got from banks as it sought mechanisms to enable it to cope with the adverse effects of Covid-19. “Finance costs constitutes one the largest fixed costs for KQ.”The carrier has a mix of loans from various lenders including local and international banks. KQ has recently said it needed Sh55 billion to be able to survive over the next coming year. In-house maintenance saved huge costs on man-hours and associated outsourcing costs such as fuel, flight permits and hotels. The government had guaranteed airline’s loans totaling $750 million (about Sh81 billion) mostly to international lenders by 2017.

Source: Standard Digital May 09, 2021 21:11 UTC