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Kenya Airways FY 2012/13 after tax loss of 7.8bn
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#111 Posted : Friday, June 21, 2013 2:50:29 AM
Rank: Elder

Joined: 3/19/2013
Posts: 2,552
VituVingiSana wrote:
hisah wrote:
mwekez@ji wrote:
He must be sunk in massive loss. When did he buy, >120, 60, 40, 20, 14?


Still posting lows below the GFC lows d'oh!

Now imagine what would happen if another GFC were triggered...
The Board & Management get huge salaries & perks. They are not stressed about financial performance.

Laughing out loudly
Wouldn't be surprised.
Kausha
#112 Posted : Friday, June 21, 2013 11:18:38 AM
Rank: Member

Joined: 2/8/2007
Posts: 808
@VVS so what stresses them?
VituVingiSana
#113 Posted : Saturday, June 22, 2013 1:20:52 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Kausha wrote:
@VVS so what stresses them?
Not getting the free flights in Biz Class!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#114 Posted : Saturday, June 22, 2013 10:23:01 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
Kausha wrote:
@VVS so what stresses them?
Not getting the free flights in Biz Class!

.... poor KQ
mwekez@ji
#115 Posted : Monday, June 24, 2013 12:03:33 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Major African airlines are struggling to remain in business amid high fuel costs and fierce competition from foreign carriers.

Despite a growing appetite for air transport in Africa, some regional airlines have had to shut down or be bailed out by the government because of operational hurdles such as lack of air rights.

The worst-hit airlines are in Southern Africa where smaller national carriers face financial turbulence as larger rivals like South African Airways (SAA) grapple with high fuel prices and reduced passengers.

For the financial year ending March 2012 the airline posted operating losses of $137 million (Sh11.6 billion) and is expected to make further losses this financial year despite a government bailout late last year.


Like SAA, Air Namibia and Air Zimbabwe are also relying on the generosity of their respective governments for survival. Air Namibia is set to receive a $120 million (Sh10.2 billion) bailout from government this year to pay outstanding debts, with another $40 million (Sh3.4 billion) planned for next year and $33.5 million (Sh3.1 billion) for 2015.

Air Zimbabwe announced bankruptcy in 2009 and has yet to bounce back.

Across the border Air Malawi was grounded earlier this year

KQ twajua mambo zake pia

http://www.businessdailyafrica....8/-/6lby6mz/-/index.html
VituVingiSana
#116 Posted : Monday, June 24, 2013 12:14:28 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
The airlines that are struggling using public cash need to be allowed to collapse & form a serious Pan-African airline with shares held by governments, private shareholders, etc without a dominant shareholder yet a private-run firm BUT one with full bilateral access in essence a "African Airline". This will help counter the likes of Emirates, etc while allowing the growth of intra-Africa travel.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#117 Posted : Wednesday, June 26, 2013 1:55:01 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Quote:
KQ has today announced that it has re-negotiated maintenance contract with suppliers of the airline’s component’s in a strategy that will lead to savings of upto Sh5 billion in the next five years.

For the next five year contract period, the airline will save over Sh754.6 million (US$8.8 million) annually under its aircraft maintenance Component Support Programme (CSP).

http://www.standardmedia.co.ke/...Sh-5-billion-in-new-deal


i find it funny that they are drumming a saving of KES.5B to be gained over the next 5 years yet they made a loss before tax of KES 10.8B in only one year. Worse, they may not even get the saving as time unflolds .... They need to work on the BIG problems ASAP which will have BIG impact on the MAIN problems
hisah
#118 Posted : Tuesday, July 09, 2013 10:17:35 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
State wants bigger say in running of Kenya Airways - http://www.nation.co.ke/.../-/wmcikuz/-/index.html

Quote:
Government is considering buying a bigger stake at the national carrier, Kenya Airways, to give it more say in the running of the airline.

In what is seen as a reversal of the government policy on privatisation, Transport Cabinet Secretary Michael Kamau and his principal secretary Mr Nduva Muli told a Parliamentary committee yesterday that it was time to change the shareholding structure of the Kenya Airways.

“The time has come for us to review the shareholding of Kenya Airways. The European carriers will not add any value, they are collapsing,” Mr Muli told the Senate’s Committee on Energy and Transport.


More gubberment interference coming up...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
VituVingiSana
#119 Posted : Wednesday, July 10, 2013 12:24:02 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Ahhh, and I am glad I bailed out of KQ as GoK wants more control over KQ.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mlennyma
#120 Posted : Wednesday, July 10, 2013 8:14:37 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Its an assurance that kq cant collapse.
"Don't let the fear of losing be greater than the excitement of winning."
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