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Kenya Airways...why ignore..
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:"Sadly, KQ pays Railway Maintenance Levy for its jet fuel, yet this levy goes to support a sector seen as a competitor. So do many Kenyans, some of whom have never seen the SGR  Life is short. Live passionately.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:Ericsson wrote:"Sadly, KQ pays Railway Maintenance Levy for its jet fuel, yet this levy goes to support a sector seen as a competitor. So do majority of Kenyans, some of whom have never seen the SGR And they will never see  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Kesho ni msema ukweli when we get to see FY results Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,565 Location: nairobi
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Ericsson wrote:Kesho ni msema ukweli when we get to see FY results Hayawi hayawi huwa.. Kamikaze.. KES 5.6B or less and I remain seated in the cockpit, ready to lift off to Canaan and in the opposite crush and burn..
COOP 70,000 ABP 15.20; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,133 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:"Old KQ" should be put into administration.
"New KQ" should take on the assets and staff it wants. And how will old kq repay the sh.222bn debt Do you think KQ in its current state can repay the net (assets-liabilities) loans it has taken on? Yes it can with the right support and management What does "support" mean? Have you bought KQ shares? It's not about buying KQ shares and no i haven't bought Support e.g government employees when travelling abroad and regionally to use kq. Question: Should KQ match the fares offered by other airlines or should taxpayers pay a premium on KQ?Remove corruption and inefficiencies mentioned they will be able to match Government parastatals when ordering goods abroad that come via air,they use kq Question: Should KQ match the fares offered by other airlines or should taxpayers pay a premium on KQ?Responded above Remove corruption and inefficiencies. Agreed but that should not be limited to KQInefficiencies here for example reduce the percentage of employee costs to total revenue. What is GoK's or KAA's role here unless GoK freezes wages?
GOK corruption, KAA i didn't they need KAA role here
KAA/Gok reduce the levies it charges kq for using Airports Should be a special concession just for KQ?
What about other Kenyan airlines eg Silverstone?
Can be dealt on an individual basis and another topic.But to answer you yes extend to other local airlines
If just for KQ vs across the board then what if other airports/countries retaliated eg LHR charged KQ more than it charges BA?
They already do that.
KGL charged KQ more than it charges RW?yes. The Rwandair ceo mentioned during Africa CEO forum in kigali early this week.
JHB charged KQ more than it charges SAA? Yes. Circular argument. Start with removing corruption and inefficiencies that bedevil the entire country. Read my post #11880So do you have any skin in the game except an indirect ownership like I do via Treasury? KQ revival if done in the right way will be for the betterment of the economy[Are there any losses you would suffer if KQ was put into administration?] As a taxpayer and supplying companies owed debt by KQ The "New KQ" could achieve the same goal sooner. Dump the toxic staff. Keep useful assets. Keep the profitable & growth routes. What about existing debt,who takes it up? Stays with Old KQ. The creditors of Old KQ will own New KQ. Existing shareholders will likely be wiped out. 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: 18,133 Location: Nairobi
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Why Kenya Airways is not yet a strategic national resource https://www.businessdail...46674-p4h38ez/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 5/6/2008 Posts: 199
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Rank: Elder Joined: 6/23/2009 Posts: 13,565 Location: nairobi
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Case of the ex. They rarely will have anything positive to say https://www.businessdail...1306-15qnnfvz/index.html
COOP 70,000 ABP 15.20; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 6/6/2016 Posts: 165 Location: Nairobi
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Were the KQ results not being announced this week Wednesday according to posts on this forum? or is it something is taking longer to cook ?
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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obiero wrote:maka wrote:Ericsson wrote:ArrestedDev wrote:obiero wrote:HaMaina wrote:obiero wrote:ArrestedDev wrote:Agree that pax and cargo uplift is up but not enough to pull it out of the loss position. Finance costs are massively down thanks to the restructuring. Let's wait for the results which should be ought Wednesday this week. My forecast remains loss before tax of KES 5.6B Is it Wednesday Tomorrow ?? Yes Net loss still very significant. Mikosz already expressed his frustration on this. 2019 figures still be not palatable at all as fleet ownership and maintenance costs will rise with the return of the B777. Results ziko wapi @ArrestedDev and Obiero Obiero fake news.... Was at Pride jana and today.... Nothing of the sort is even being prepared for.... We saw you and the union guys so decided to do it on Friday morning at the Intercon It has come to pass with no results announcement. Maybe they have requested for extension Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,133 Location: Nairobi
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Based on discussions with KQ management though, KPMG said the carrier was in breach of certain undisclosed “financial covenants” as at June 2018, and received waivers from lenders for the financial year ending December 31, 2018. The report recommends that JKIA be run by a private-sector operator to maximise revenues and profits. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Kq share price goes below sh.5 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,565 Location: nairobi
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Ericsson wrote:Kq share price goes below sh.5 One trade only
COOP 70,000 ABP 15.20; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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obiero wrote:Ericsson wrote:Kq share price goes below sh.5 One trade only Sub 2 bob on the way. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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VituVingiSana wrote:Based on discussions with KQ management though, KPMG said the carrier was in breach of certain undisclosed “financial covenants” as at June 2018, and received waivers from lenders for the financial year ending December 31, 2018. The report recommends that JKIA be run by a private-sector operator to maximise revenues and profits. I guess Dec 2018 results have been misquoted in the article. KPMG could not have accessed the 2018 results since they are not yet released officially. As far as I am concerned it is the 2017 results which had such a statement. It implies they were in arrears with some loan repayments. I do not think after the restructuring there were further loan default cases since a large portion of the debt was converted to equity.
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Rank: Elder Joined: 6/23/2009 Posts: 13,565 Location: nairobi
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ArrestedDev wrote:VituVingiSana wrote:Based on discussions with KQ management though, KPMG said the carrier was in breach of certain undisclosed “financial covenants” as at June 2018, and received waivers from lenders for the financial year ending December 31, 2018. The report recommends that JKIA be run by a private-sector operator to maximise revenues and profits. I guess Dec 2018 results have been misquoted in the article. KPMG could not have accessed the 2018 results since they are not yet released officially. As far as I am concerned it is the 2017 results which had such a statement. It implies they were in arrears with some loan repayments. I do not think after the restructuring there were further loan default cases since a large portion of the debt was converted to equity. I feel sad and sorry for the KQ board and management, Ngunze was hounded out in a huff and now the people are demanding for more heads to roll. Everyone in the streets including hawkers, news anchors, politicians, cobblers and @vvs seem to imagine that they have better ability to successfully turn around KQ than Sebastian and Michael.. For sure the next CEO will struggle, based on overall negative energy circumstances. As often stated here, 30% of KQ staff must be culled to get a culture shift. The problem with KQ is thug like organizational culture supported by a blind KAWU & KALPA, not fundamentals of finance
COOP 70,000 ABP 15.20; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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obiero wrote:ArrestedDev wrote:VituVingiSana wrote:Based on discussions with KQ management though, KPMG said the carrier was in breach of certain undisclosed “financial covenants” as at June 2018, and received waivers from lenders for the financial year ending December 31, 2018. The report recommends that JKIA be run by a private-sector operator to maximise revenues and profits. I guess Dec 2018 results have been misquoted in the article. KPMG could not have accessed the 2018 results since they are not yet released officially. As far as I am concerned it is the 2017 results which had such a statement. It implies they were in arrears with some loan repayments. I do not think after the restructuring there were further loan default cases since a large portion of the debt was converted to equity. I feel sad and sorry for the KQ board and management, Ngunze was hounded out in a huff and now the people are demanding for more heads to roll. Everyone in the streets including hawkers, news anchors, politicians, cobblers and @vvs seem to imagine that they have better ability to successfully turn around KQ than Sebastian and Michael.. For sure the next CEO will struggle, based on overall negative energy circumstances. As often stated here, 30% of KQ staff must be culled to get a culture shift. The problem with KQ is thug like organizational culture supported by a blind KAWU & KALPA, not fundamentals of finance As usual you are wrong... Ok on Mbuvi you are right he was duped...The real story about him was that CS Macharia never liked him... So he vanged up with Gichinga and co used KALPA to make things very difficult for him... He had to step aside.... Mbuvi's idea of shrinking then expanding woukd habe worked? Sebastian's all out expansion drive will take KQ deeper into debt and crazy losses will be loaded. Organizational culture has nothing to do with the mess at KQ... Like I said earlier staff morale is pretty low imagine never having an increment from 2012...7 years... Someone said here the staff can opt to leave... Well a sizeable number have left leaving you with greenhorns who cant handle shit.... Address the underlying issues @Obiero...Please. possunt quia posse videntur
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Rank: New-farer Joined: 12/23/2018 Posts: 38 Location: germany
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I am not investing in airline companies since many years. I don’t think that it is sustainable business considering high amount of low cost companies who are taking whole market. On the other side, price of oil is also killer of profitability for air company, so no money there
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Rank: Chief Joined: 1/3/2007 Posts: 18,133 Location: Nairobi
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ArrestedDev wrote:VituVingiSana wrote:Based on discussions with KQ management though, KPMG said the carrier was in breach of certain undisclosed “financial covenants” as at June 2018, and received waivers from lenders for the financial year ending December 31, 2018. The report recommends that JKIA be run by a private-sector operator to maximise revenues and profits. I guess Dec 2018 results have been misquoted in the article. KPMG could not have accessed the 2018 results since they are not yet released officially. As far as I am concerned it is the 2017 results which had such a statement. It implies they were in arrears with some loan repayments. I do not think after the restructuring there were further loan default cases since a large portion of the debt was converted to equity. Can't they get information about waivers for FY 2018 without having knowledge of the FY 2018 results/performance? 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: 18,133 Location: Nairobi
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obiero wrote:ArrestedDev wrote:VituVingiSana wrote:Based on discussions with KQ management though, KPMG said the carrier was in breach of certain undisclosed “financial covenants” as at June 2018, and received waivers from lenders for the financial year ending December 31, 2018. The report recommends that JKIA be run by a private-sector operator to maximise revenues and profits. I guess Dec 2018 results have been misquoted in the article. KPMG could not have accessed the 2018 results since they are not yet released officially. As far as I am concerned it is the 2017 results which had such a statement. It implies they were in arrears with some loan repayments. I do not think after the restructuring there were further loan default cases since a large portion of the debt was converted to equity. I feel sad and sorry for the KQ board and management, Ngunze was hounded out in a huff and now the people are demanding for more heads to roll. Everyone in the streets including hawkers, news anchors, politicians, cobblers and @vvs seem to imagine that they have better ability to successfully turn around KQ than Sebastian and Michael.. For sure the next CEO will struggle, based on overall negative energy circumstances. As often stated here, 30% of KQ staff must be culled to get a culture shift. The problem with KQ is thug like organizational culture supported by a blind KAWU & KALPA, not fundamentals of finance Old KQ should be taken out into the yard and shot dead. Let a New KQ arise. MJ, SM, Ohana & @VVS can run it.  Take only the assets (& associated liabilities) that are needed. Fire all the staff. Hire only those New KQ needs and wants. Let the creditors take a haircut. Yes, even KQLC. GoK should make good on the guarantees. The shareholders will be wiped out lakini shauri yao. Watu wapambane na hali yao. The creditors will own New KQ. Let the New KQ rise like the Phoenix. Let it expand sensibly. Profitably. Over time, without the burdens of Old KQ, it can focus on PERFORMANCE and not PR, paid Wazuans, tenderpreneurs, Freeloaders, etc. In the future the creditors can sell off their shares in New KQ. Or get dividends. This will mitigate their losses in Old KQ. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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