Kenya Airways has announced its biggest ever annual 'tourism slump' of about 290 million dollars.
The tourism sector has gone down because of the attacks in Kenya by Somalia-based militants al-Shabab, the BBC reported.
Finance Director Alex Mbugua told investors that the airline has been hit by competition from Gulf carriers.
According to reports, competition from within the continent has also played a major factor with Ethiopian Airlines being a major regional rival.
The airline is now looking for a 200 million dollar loan.