The statement that Kenya Airways made a loss of Kshs 21.7 billion and an operating profit of Kshs 998 million in their half-year results may seem contradictory at first glance. However, it is not contradictory but rather reflects different aspects of the company's financial performance.

To understand this, we need to differentiate between net profit and operating profit. Net profit is the final figure that reflects the company's overall financial performance after considering all expenses, including operating expenses, taxes, interest, and other non-operating items. On the other hand, operating profit focuses solely on the revenue and expenses directly related to the company's core operations.

In the case of Kenya Airways, the loss of Kshs 21.7 billion represents the net profit figure, which takes into account all the expenses mentioned earlier. This loss indicates that the company's total expenses exceeded its total revenue during the specified period.

However, the operating profit of Kshs 998 million indicates that the core operations of the company were profitable. It shows that the revenue generated from Kenya Airways' main activities, such as ticket sales and cargo services, exceeded the direct expenses associated with these operations, such as fuel, salaries, and maintenance costs.

The difference between the net loss and operating profit can be attributed to various factors. For example, Kenya Airways may have incurred significant non-operating expenses, such as interest payments on loans or one-time charges, which contributed to the overall loss. Additionally, the company may have experienced losses from non-core activities, such as investments or subsidiaries.

It is also important to note that the half-year results provide a snapshot of the company's financial performance during a specific period. The airline industry, in particular, is susceptible to various external factors, such as fuel prices, exchange rates, and global events, which can significantly impact profitability.

In conclusion, the statement that Kenya Airways made a loss of Kshs 21.7 billion and an operating profit of Kshs 998 million in their half-year results is not contradictory. It simply reflects different aspects of the company's financial performance, with the net loss representing the overall financial picture, while the operating profit focuses solely on the profitability of its core operations.