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Kenya Airways...why ignore..
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maka
#1561 Posted : Tuesday, March 31, 2015 11:05:10 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Head of Passenger services calls it a day...Got tired of this headless chicken...
possunt quia posse videntur
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obiero
#1562 Posted : Tuesday, March 31, 2015 11:07:57 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,321
Location: nairobi
mlennyma wrote:
Euge wrote:
derick wrote:
Ericsson wrote:
And it is now emerging the company is technically insolvent.
Using deductions from employees salary to meet payables

That is pathetic. Mr Titus should be held accountable.


And Wainaina

long term investing can be fatal.

With revenues still in excess of $1.5B, the firm can be said to be in a bad state of health, but not its death bed
COOP, IMH, KEGN, KQ, MTNU
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obiero
#1563 Posted : Tuesday, March 31, 2015 11:18:06 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,321
Location: nairobi
With revenues still in excess of $1.5B, the firm can be said to be in a bad state of health, but not its death bed
COOP, IMH, KEGN, KQ, MTNU
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VituVingiSana
#1564 Posted : Wednesday, April 01, 2015 6:48:15 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,380
Location: Nairobi
obiero wrote:
With revenues still in excess of $1.5B, the firm can be said to be in a bad state of health, but not its death bed

Enron had huge revenues.
US airlines (before they went bankrupt & wiped out Ordinary Shareholders) had huge revenues.
Revenues are not profits.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Euge
#1565 Posted : Wednesday, April 01, 2015 8:47:41 AM
Rank: Elder

Joined: 8/4/2008
Posts: 2,849
Location: Rupi
Maybe GOK will bail it out.
Lord, thank you!
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lochaz-index
#1566 Posted : Wednesday, April 01, 2015 9:16:06 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
VituVingiSana wrote:
obiero wrote:
With revenues still in excess of $1.5B, the firm can be said to be in a bad state of health, but not its death bed

Enron had huge revenues.
US airlines (before they went bankrupt & wiped out Ordinary Shareholders) had huge revenues.
Revenues are not profits.


Using revenues or EV/sales as a basis of assessing airlines or OMC's is not as straight forward as one would want to believe.
The main purpose of the stock market is to make fools of as many people as possible.
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MaichBlack
#1567 Posted : Wednesday, April 01, 2015 10:07:24 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,911
@vvs - I know you cut your losses on KQ and you are probably never looking back but what would you consider as the right price to get a piece of KQ. I don't see KQ collapsing. At the very least the government will never let that happen.

Before the latest round of gymnastics, I was targeting 7/=. But with the new information now available, even that is too high!! Will we see 5/= after the results?

What is the NAV for the company.

Other wazuans (other than @Obiero; He he he) can also contribute.

@Obiero, nothing personal. I know you will tell me it will be 25/= by August....
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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VituVingiSana
#1568 Posted : Wednesday, April 01, 2015 10:23:09 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,380
Location: Nairobi
@MaichBlack - The more I read, the less I like it. Please read Warren Buffett's gems on businesses like airlines, firms like KQ with managements that are in it just for their paychecks.

A bailout will wipe out the Ordinary Shareholders. GoK and the Lenders will 'own' KQ. Read about Delta, United, etc [US airlines].

NAV is dropping like a rock as interest exceeds income, losses on planes write-downs and cash burn.

If you want to speculate ala Mumias then I am not one to seek out for advice.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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MaichBlack
#1569 Posted : Wednesday, April 01, 2015 10:28:52 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,911
Thanks a lot @vvs.

Other wazuans who don't go by the name @Obiero, your take?
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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  | | Edit by user: Wednesday, April 01, 2015 10:34 AM | Reason: Not specified
lochaz-index
#1570 Posted : Wednesday, April 01, 2015 10:33:35 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
MaichBlack wrote:
@vvs - I know you cut your losses on KQ and you are probably never looking back but what would you consider as the right price to get a piece of KQ. I don't see KQ collapsing. At the very least the government will never let that happen.

Before the latest round of gymnastics, I was targeting 7/=. But with the new information now available, even that is too high!! Will we see 5/= after the results?

What is the NAV for the company.

Other wazuans (other than @Obiero; He he he) can also contribute.

@Obiero, nothing personal. I know you will tell me it will be 25/= by August....


Book value is currently at 10bob when you've accounted for the H1 2014 loss... likely to dip to 7ish on fy2014. Am also looking to get in here at 7 or lower but speculatively since am not too sure ngunze and his team have what it takes to turn this plane around and the return to profitability would likely take 2 years.
P. S this share almost always trades at book value with a small discount/premium on it.
The main purpose of the stock market is to make fools of as many people as possible.
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