The fact that the loss was reported in the year before Covid-19 pandemic grounded the aviation sector promises the airline more painful days ahead.
In a statement to the Nairobi Securities Exchange (NSE) on Tuesday, the airline said the total revenue for the group increased by 12.4 percent from Sh114 billion in 2018 to Sh128 billion last year.
Joseph explained that the airline invested in new routes in the year under review among them Geneva, Rome, and Malindi.
Passenger revenue grew by 8.9percent driven by route expansion among them the full year of New York operations, launch of Rome, Geneva and Malindi.
Inability to keep a lid on its costs hurt the airline's bottom-line, punishing it into another year of loss making.
