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Kenya Airways FY 2012/13 after tax loss of 7.8bn
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Kenya Airways’ associate, Precision Air, posts net loss of KES 1.6bn in FY2012/13
Precision Air has posted a net loss of KES 1.6bn for the full year ended March 2013 due to increased operating expenses. The airline’s total operating expenses rose 44.2% y/y to KES 2.9bn on the back of increased staff related costs, impairments on receivables and marketing expenses leading to an operating loss of KES 977.7m. The gross profit meanwhile was down 27.3% y/y to KES 1.8bn as a result of increased fuel and maintenance costs. Revenue however rose 11.2% y/y to KES 9.8bn driven by increased passenger numbers (+8.5% y/y to 895,150 passengers). The airline will scale back on routes and cancel expensive aircraft leases to return to profitability. Last month, Precision Air sought a USD 32.0m bailout package from the Tanzania government to mitigate the effects of high borrowing costs (finance costs were up 6.8% y/y to KES 442.7m in FY13) related to the acquisition of seven planes from Avions de transport regional (ATR) for a total cost of USD 136.0m in 2007. The airline’s IPO in 2011 was also undersubscribed, limiting the cashflow available to service the debt. Kenya Airways’ owns 41.0% of Precision Air and recorded a loss of KES 230.0m in FY13 relating to this stake. (Source; Business Daily, Kestrel Research)
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Rank: Member Joined: 2/8/2007 Posts: 808
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This is the PA that IPO'd at the tail end of 2011 and is now ombaing serikali itusaidie. Airline business is not a portfolio investors' play. KQ next with serikali?
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Listen to me! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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Good for you! We will wait until 31st Oct 2013. In the meantime, I am staying out since 14/- is a mirage. Again, IMHO. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 2/8/2007 Posts: 808
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VituVingiSana wrote: Good for you! We will wait until 31st Oct 2013. In the meantime, I am staying out since 14/- is a mirage. Again, IMHO. Look expect bailout application on that day....and this is serious.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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#AGM > NAIROBI, Kenya, Sep 26 – Kenya Airways has assured its shareholders that it will turn the losses experienced in the period ended March 2013 into profit in the next financial year. Kenya Airways Managing Director Titus Naikuni says the airline has set targets to achieve cost saving in all areas of the business by improving work practices. > http://www.capitalfm.co.ke/busi...return-to-profitability/
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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mwekez@ji wrote:#AGM > NAIROBI, Kenya, Sep 26 – Kenya Airways has assured its shareholders that it will turn the losses experienced in the period ended March 2013 into profit in the next financial year. Kenya Airways Managing Director Titus Naikuni says the airline has set targets to achieve cost saving in all areas of the business by improving work practices. > http://www.capitalfm.co.ke/busi...return-to-profitability/ The next financial year being the one ending March 2014. Less than 8 months for @obiero to be made "rich"?
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Bullish Rich Today wrote:Dr. Titus Naikuni's comments at the AGM yesterday, where he said
“When we compare the first five months of this financial year over a similar period last year, we have seen a marked improvement in passenger numbers as well as managed well the operating costs” and guided Investors towards the View that Kenya Airways was on Target to report a FY Profit, bounced the share price 1.07% to close at 9.45. Kenya Airways will hurdle 10.00 and head towards 12.00. Its been deeply sold for a while. Dr. Naikuni is not the type to pad his comments and he is signalling the Earnings Curve has inflected. There was Buy Side Demand at the Finish Line for 691% more shares than were traded during the session.
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Rank: Elder Joined: 6/23/2009 Posts: 13,555 Location: nairobi
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waiting to see the price movements. may start to slow down my buying at any price above KES 14
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 6/17/2009 Posts: 1,619
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At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards.
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Rank: Elder Joined: 6/23/2009 Posts: 13,555 Location: nairobi
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cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 6/17/2009 Posts: 1,619
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obiero wrote:cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later Thank you but this one for me no.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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cnn wrote:obiero wrote:cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later Thank you but this one for me no. 08/06/13??? The opposite of courage is not cowardice, it's conformity.
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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jerry wrote:cnn wrote:obiero wrote:cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later Thank you but this one for me no. 08/06/13??? LMAO ...  8th June 2013 or 6th August 2013? Aren't both dates past the due date? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,555 Location: nairobi
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VituVingiSana wrote:jerry wrote:cnn wrote:obiero wrote:cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later Thank you but this one for me no. 08/06/13??? LMAO ... 8th June 2013 or 6th August 2013? Aren't both dates past the due date? Wewe nacheka nini bwana.. Haha. Obviously meant October
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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@obiero. you've proven yourself as a competent bus driver. be sure to alert passengers when to jump out if it comes to that. personally with current mgnt I can't touch kq The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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obiero wrote:VituVingiSana wrote:jerry wrote:cnn wrote:obiero wrote:cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later Thank you but this one for me no. 08/06/13??? LMAO ... 8th June 2013 or 6th August 2013? Aren't both dates past the due date? Wewe nacheka nini bwana.. Haha. Obviously meant October Good luck on KQ. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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obiero wrote:VituVingiSana wrote:jerry wrote:cnn wrote:obiero wrote:cnn wrote: At the close the demand was for 699 800 against a supply of 1000(all at 10.35),a high of 10.35,last price 10,the VWAP @ 9.65....some upward traction on the price seems to be on the cards. KES 12.50 by 08.06.13.. thank me later Thank you but this one for me no. 08/06/13??? LMAO ... 8th June 2013 or 6th August 2013? Aren't both dates past the due date? Wewe nacheka nini bwana.. Haha. Obviously meant October Will it ramp up 2 bob in 4 trading sessions?
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Kenya Airways FY 2012/13 after tax loss of 7.8bn
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