Notes to the Financial Statements (cont'd) - Kenya Airways
Notes to the Financial Statements (cont'd) - Kenya Airways
Notes to the Financial Statements (cont'd) - Kenya Airways
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
KENYA AIRWAYS LIMITED | ANNUAL REPORT & FINANCIAL STATEMENTS 2011<br />
KENYA AIRWAYS LIMITED | ANNUAL REPORT & FINANCIAL STATEMENTS 2011<br />
Business Highlights<br />
Three year Summary of Business Performance<br />
Turnover by region<br />
Europe<br />
27%<br />
2011 2010<br />
<strong>Kenya</strong><br />
5%<br />
Asia<br />
9% Asia<br />
10%<br />
Middle East<br />
10%<br />
Europe<br />
27%<br />
<strong>Kenya</strong><br />
4%<br />
Rest of Africa<br />
49% Middle East<br />
Rest of Africa<br />
11%<br />
48%<br />
<strong>Financial</strong> Highlights<br />
2011 2010 2009<br />
KShs. Million US$ Million KShs. Million US$ Million KShs. Million US$ Million<br />
Turnover<br />
Passenger 75,355 945.6 62,838 819.6 62,947 883.7<br />
Freight & Mail 6,522 81.8 5,434 70.9 6,081 85.4<br />
Handling 1,492 18.7 1,312 17.1 1,276 17.9<br />
O<strong>the</strong>r 2,467 31.0 1,159 15.1 1,525 21.4<br />
Total 85,836 1,077.1 70,743 922.7 71,829 1,008.4<br />
Direct Expenditure (63,041) (791.1) (53,478) (697.5) (55,786) (783.2)<br />
Overheads (16,980) (213.1) (15,426) (201.2) (12,001) (168.5<br />
Operating Profit 5,815 72.9 1,839 24.0 4,042 56.7<br />
Operating Margin% 6.8% 2.6% 5.6%<br />
Turnover<br />
Direct Operating Costs<br />
Net <strong>Financial</strong> Expenses (953) (12.0) (1,614) (21.1) (864) (12.1)<br />
Fuel Hedge Derivative 328 4.1 2,369 30.9 (8,904) (125.0)<br />
Share of Associate (188) (2.4) 77 1.0 62 0.9<br />
Profit before tax 5,002 62.6 2,671 34.8 (5,664) (79.5)<br />
Revenue Kshs mil<br />
80,000<br />
70,000<br />
60,000<br />
70,743<br />
Actual 2010<br />
9,576<br />
2,941<br />
1,088<br />
15,093<br />
Pax Rev Fuel<br />
Surcharge<br />
Cargo<br />
1,488<br />
O<strong>the</strong>rs<br />
85,836<br />
Actual<br />
2011<br />
DOCs KShs mil<br />
55,000<br />
45,000<br />
35,000<br />
44,376<br />
Actual 2010<br />
5,959<br />
Fuel<br />
1,807<br />
983<br />
9,043<br />
Maintce Lndg<br />
Hadlg.<br />
Nav<br />
294<br />
O<strong>the</strong>rs<br />
53,419<br />
Actual<br />
2011<br />
Taxation (1,464) (18.4) (636) (8.3) 1,581 22.2<br />
Profit for <strong>the</strong> year 3,538 44.2 2,035 26.5 (4,083) (57.3)<br />
Profit after tax margin% 4.1% 2.9% -5.7%<br />
Dividends 693 8.7 462 6.0 462 6.5<br />
Operating Statistics<br />
2011 2010 2009<br />
Overheads KShs mil<br />
Overheads<br />
16,500<br />
15,500<br />
14,500<br />
15,426<br />
Actual<br />
2010<br />
1,022<br />
Employee<br />
87<br />
Bad<br />
Debts<br />
156<br />
1,554<br />
Equip.<br />
Hire<br />
25<br />
Depn<br />
204 16,980<br />
Gen<br />
Exp<br />
Actual<br />
2011<br />
Fuel Costs Kshs mil<br />
23,000<br />
19,000<br />
15,000<br />
Fuel Cost<br />
18,819<br />
3,908<br />
2,260 -693 485 24,778<br />
5,959<br />
Actual 2010 Price Hours Fleet Mix Exch Rate Actual<br />
2011<br />
Passengers 3,136,789 2,890,207 2,824,709<br />
RPK’s (Millions) 8,896 8,071 8,061<br />
ASK’s (Millions) 12,854 12,143 11,386<br />
Passenger Load Fac<strong>to</strong>r (%) 69.2 66.5 70.8<br />
Cargo Tonnes 56,401 55,201 55,606<br />
Pax yield per RPK (Usc) 8.28 7.94 8.20<br />
Employees<br />
Airline 3,207 2,817 2,863<br />
Group 4,355 4,133 4,179<br />
Aircraft in Service at Year End<br />
Boeing 777-200 4 4 4<br />
Boeing 767-300 6 7 6<br />
Boeing 737-800 5 5 5<br />
Boeing 737-700 4 4 4<br />
Boeing 737-300 6 4 4<br />
Embraer 190 1 - -<br />
Embraer 170 5 3 3<br />
SAAB 340 - - 2<br />
Total 31 27 28<br />
4<br />
5
Change language