Kenya Airways posted a KES4 billion ($49.2 million) loss for its fiscal year ended March 31, reversed from a KES3.87 billion profit in the prior year and the first annual deficit it has endured since its privatization in 1996. It said the loss was driven by fuel hedging losses and depreciation of the Kenyan shilling versus the US dollar. "We have had to take a huge charge of KES7.5 billion in our income statement and this is really as a result of the huge dive in the oil prices. . .compared ...
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