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Kenya Airways FY 2010/11 results
Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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Again... who really knows? Who audits? It is owned & controlled by GoE... So all 'internal' 90% of all African cargo is highly, highly unlikely. Kwani SAA, KQ, Air Maroc, Egypt Air [the other 4 large African airlines account for 10% only?] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 10/25/2010 Posts: 519 Location: nairobi
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@ the deal, I hope ur watching KQ, and I hope u will not make the previous mistake @ 39 today...if u did average down sometime back...u would be far by now...
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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VituVingiSana wrote:Again... who really knows? Who audits? It is owned & controlled by GoE... So all 'internal' 90% of all African cargo is highly, highly unlikely. Kwani SAA, KQ, Air Maroc, Egypt Air [the other 4 large African airlines account for 10% only?] I hold no interests in KQ but that is financial propaganda of the highest order. Pu!!
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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Cde Monomotapa wrote:VituVingiSana wrote:Again... who really knows? Who audits? It is owned & controlled by GoE... So all 'internal' 90% of all African cargo is highly, highly unlikely. Kwani SAA, KQ, Air Maroc, Egypt Air [the other 4 large African airlines account for 10% only?] I hold no interests in KQ but that is financial propaganda of the highest order. Pu!! The Namibian has been drinking 'tej' coz I find it hard to believe that SAA + Royal Air Maroc + Egypt Air [all larger than ET or KQ] contribute less than 10%!!! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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VituVingiSana wrote:Cde Monomotapa wrote:VituVingiSana wrote:Again... who really knows? Who audits? It is owned & controlled by GoE... So all 'internal' 90% of all African cargo is highly, highly unlikely. Kwani SAA, KQ, Air Maroc, Egypt Air [the other 4 large African airlines account for 10% only?] I hold no interests in KQ but that is financial propaganda of the highest order. Pu!! The Namibian has been drinking 'tej' coz I find it hard to believe that SAA + Royal Air Maroc + Egypt Air [all larger than ET or KQ] contribute less than 10%!!!  the profits for Ethiopia Airlines speak for themselves, you can't argue with numbers..it might not be 90% but Ethiopia airlines is the largest cargo carrier in Africa google that.
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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the deal wrote:VituVingiSana wrote:Cde Monomotapa wrote:VituVingiSana wrote:Again... who really knows? Who audits? It is owned & controlled by GoE... So all 'internal' 90% of all African cargo is highly, highly unlikely. Kwani SAA, KQ, Air Maroc, Egypt Air [the other 4 large African airlines account for 10% only?] I hold no interests in KQ but that is financial propaganda of the highest order. Pu!! The Namibian has been drinking 'tej' coz I find it hard to believe that SAA + Royal Air Maroc + Egypt Air [all larger than ET or KQ] contribute less than 10%!!! the profits for Ethiopia Airlines speak for themselves, you can't argue with numbers..it might not be 90% but Ethiopia airlines is the largest cargo carrier in Africa google that. Now you sound like @QW. You said 90% (very confidently) but then "it might not be 90%"... Even if ET is Africa's largest carrier... I think the combination of KQ + RAM + SAA & EA must be more than 10%... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Rank: Member Joined: 7/3/2008 Posts: 238
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KQ just ordered another 10 Embraers, seems like the rights issue is imminent. http://www.airlinesandde...ys-air-astana-and-gecas/
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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[quote=Mali]KQ just ordered another 10 Embraers, seems like the rights issue is imminent. http://www.airlinesandde...s-air-astana-and-gecas/[/quote] Yes but i'm worried about their oil hedges, Oil offlate has taken a beating.
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Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos
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seems like KQ is # 6 in passenger: Bloomberg quotes 3,071,815 pax (2010) while KQ gave 3,137,000 pax. difference could be a result of KQ financial cycle. http://www.bloomberg.com...ers-carried-table-.html
A bad day fishing is better than a good day at work
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Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos
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BTW, KQ had a t/o of 85,836m. From this, the airline paid commissions of 2,785m, leaving a Op. Profit of 5,815m. Its the insurance industry all over again - the real money goes to sales people (not you and not the company) who have nothing to lose in the deal. A bad day fishing is better than a good day at work
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Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi
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http://www.businessdaily...8/-/guhvsu/-/index.html
The last line reads: Quote:In the year ending March 2011, Kenya Airways saved Sh462 million on sales commissions as passengers embraced online booking supported by the mobile money payment services. What are the implications of cutting out agents? They work harder? Or they quit? Saving close to 500m just from sales commissions is commendable... I like! "I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Genghis Khan wrote:http://www.businessdailyafrica.com/Corporate+News/KCB+expands+e+payments+to+airline+industry/-/539550/1185998/-/guhvsu/-/index.html The last line reads: Quote:In the year ending March 2011, Kenya Airways saved Sh462 million on sales commissions as passengers embraced online booking supported by the mobile money payment services. What are the implications of cutting out agents? They work harder? Or they quit? Saving close to 500m just from sales commissions is commendable... I like! @GK that caught my eye too..good stuff. Travel agents appear to be resigned to similar fate of the former KPLC meter readers, LMAO!
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Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos
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Cde Monomotapa wrote:Genghis Khan wrote:http://www.businessdailyafrica.com/Corporate+News/KCB+expands+e+payments+to+airline+industry/-/539550/1185998/-/guhvsu/-/index.html The last line reads: Quote:In the year ending March 2011, Kenya Airways saved Sh462 million on sales commissions as passengers embraced online booking supported by the mobile money payment services. What are the implications of cutting out agents? They work harder? Or they quit? Saving close to 500m just from sales commissions is commendable... I like! @GK that caught my eye too..good stuff. Travel agents appear to be resigned to similar fate of the former KPLC meter readers, LMAO! there is some promise in the branchless banking (Mpesa et al) which KQ is already into. However, a fair amount of travel is corporate, and this is commission territory A bad day fishing is better than a good day at work
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Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi
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StatMeister wrote:Cde Monomotapa wrote:Genghis Khan wrote:http://www.businessdailyafrica.com/Corporate+News/KCB+expands+e+payments+to+airline+industry/-/539550/1185998/-/guhvsu/-/index.html The last line reads: Quote:In the year ending March 2011, Kenya Airways saved Sh462 million on sales commissions as passengers embraced online booking supported by the mobile money payment services. What are the implications of cutting out agents? They work harder? Or they quit? Saving close to 500m just from sales commissions is commendable... I like! @GK that caught my eye too..good stuff. Travel agents appear to be resigned to similar fate of the former KPLC meter readers, LMAO! there is some promise in the branchless banking (Mpesa et al) which KQ is already into. However, a fair amount of travel is corporate, and this is commission territory Funny you mentioned that... my employer IS AN AGENT for both Fly540 and KQ. If I have to travel I get a form signed off by my boss and take it to a chick in our customer service who books the flights online... we get a discount (maybe the agent commission equivalent) from the airlines I must assume... "I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos
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Genghis Khan wrote:StatMeister wrote:Cde Monomotapa wrote:Genghis Khan wrote:http://www.businessdailyafrica.com/Corporate+News/KCB+expands+e+payments+to+airline+industry/-/539550/1185998/-/guhvsu/-/index.html The last line reads: Quote:In the year ending March 2011, Kenya Airways saved Sh462 million on sales commissions as passengers embraced online booking supported by the mobile money payment services. What are the implications of cutting out agents? They work harder? Or they quit? Saving close to 500m just from sales commissions is commendable... I like! @GK that caught my eye too..good stuff. Travel agents appear to be resigned to similar fate of the former KPLC meter readers, LMAO! there is some promise in the branchless banking (Mpesa et al) which KQ is already into. However, a fair amount of travel is corporate, and this is commission territory Funny you mentioned that... my employer IS AN AGENT for both Fly540 and KQ. If I have to travel I get a form signed off by my boss and take it to a chick in our customer service who books the flights online... we get a discount (maybe the agent commission equivalent) from the airlines I must assume... I meant (large) corporates which prefer to outsource the service rather than run internal maker-checker processes & recons A bad day fishing is better than a good day at work
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Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi
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StatMeister wrote:Genghis Khan wrote:StatMeister wrote:Cde Monomotapa wrote:Genghis Khan wrote:http://www.businessdailyafrica.com/Corporate+News/KCB+expands+e+payments+to+airline+industry/-/539550/1185998/-/guhvsu/-/index.html The last line reads: Quote:In the year ending March 2011, Kenya Airways saved Sh462 million on sales commissions as passengers embraced online booking supported by the mobile money payment services. What are the implications of cutting out agents? They work harder? Or they quit? Saving close to 500m just from sales commissions is commendable... I like! @GK that caught my eye too..good stuff. Travel agents appear to be resigned to similar fate of the former KPLC meter readers, LMAO! there is some promise in the branchless banking (Mpesa et al) which KQ is already into. However, a fair amount of travel is corporate, and this is commission territory Funny you mentioned that... my employer IS AN AGENT for both Fly540 and KQ. If I have to travel I get a form signed off by my boss and take it to a chick in our customer service who books the flights online... we get a discount (maybe the agent commission equivalent) from the airlines I must assume... I meant (large) corporates which prefer to outsource the service rather than run internal maker-checker processes & recons My employer is a large corporate (a bank). We have at least a few guys travelling to branches or elsewhere everyday so the system is efficient as we can interact with the airline online directly instead of using agents or KQ customer service. "I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Use agents only when you need credit - they will have to assess you first though. Otherwise just book yourself.
BTW, those 10 new Embraers, they will make JKIA a bigger hub as they will do the regional routes and feed the bigger kites going to Dubs, London, Armsterdam etc. So KQ needs to invest in a hotel at the airport, to look after these people on transit.
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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A low oil/fuel price is more beneficial to KQ than a higher fuel price coz not 100% hedged + lower fares can boost travel Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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Commissions are an integral part of airline sales. Not all sales are 'straightforward' i.e. from Point A to B but many BUSINESS TRAVELERS go from Point A to B to C back to A. It might be cheaper to PAY motivated 'agents' than employees who are always looking for a higher pay for less work! Agents book tickets, change dates, advise on travel dates, etc [Basically what they do might have to be done by salaried employees] Last year, I wanted a last minute ticket [not allowed online] so I went to KQ's offices. I had to wait till they opened [9am] - they refused to 'open' prior to 9am... Would an agent keep you waiting? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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