Kenya Airways recorded a historic pretax loss of more than $333.2 million in 2020 as the number of passengers dropped from 5.2 million in 2019 to 1.8 million due to the COVID-19 pandemic, which restricted travelling.
"The COVID-19 global outbreak in 2020 was beyond anyone's prediction, and its impact on the industry is expected to continue affecting air travel demand for the next two to three years," Kenya Airways chairperson Michael Joseph said.
The airline's cargo volumes also eased during the period as the carrier halted some flights.
Kenya Airways had been struggling before the advent of COVID-19 as it recorded a loss of $258 million in 2016.
The carrier's basic loss per share dropped to 6.22 shillings ($0.057) in 2020 from 2.23 shillings ($0.020), the previous year.