Kenya Airways Limited
Statement of Financial Position
For the Year Ended (2018 & 2019)
	2019 KShs million	2018 KShs million
ASSETS
Non-current assets
Property, aircraft and equipment	89,357	99,835
Intangible assets	2,874	2,962
Right-of -use-assets	69,562	-
Return conditions asset	4,686	2,587
Aircraft deposits	3,327	3,076
Deferred taxation	207	198
	170,013	108,658
Current assets
Prepaid maintenance asset	5,533	3,398
Inventories	2,115	2,098
Trade and other receivables	13,647	14,437
Fuel derivatives	-	354
Current tax recoverable	1,270	1,258
Cash and bank balances	3,095	6,431
	25,660	27,976
TOTAL ASSETS	195,673	136,634
EQUITY AND LIABILITIES
EQUITY
Capital and reserves
Share capital	5,824	5,824
Share premium	49,223	49,223
Mandatory convertible note	9,630	9,630
Treasury shares	(142)	(142)
Foreign currency hedging reserve	(8,896)	(10,861)
Fuel hedging reserve	-	(435)
Revaluation surplus	6,639	4,911
Accumulated loss	(80,224)	(60,688)
Equity attributable to owners of the company	(17,946)	(2,538)
Non-controlling interests	50	49
Total equity	(17,896)	(2,489)
Liabilities
Non-current liabilities
Borrowings	69,468	5,186
Lease liabilities	68,533	-
Deferred taxation	2,723	2,013
Onerous lease provision	-	30
Return condition provision	5,016	2,382
Asset retirement obligation	14	-
	145,754	9,611
Current liabilities
Fuel derivatives	-	789
Borrowings	6,625	77,362
Lease liabilities	11,497	-
Onerous lease provision	-	701
Return condition provision	2,575	1,793
Sales in advance of carriage	14,859	17,551
Trade and other payables	30,685	30,038
Provisions	1,574	1,278
	67,815	129,512
TOTAL EQUITY AND LIABILITIES	195,673	136,634

Required:

1. Calculate any two turnover/asset utilization ratios and interpret the turnover performance of Kenya Airways Limited for the year 2019. (4 marks)
2. Calculate any two leverage ratios and interpret the leverage performance of Kenya Airways Limited for the year 2019. (4 marks)