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Kenya Airways...why ignore..
Rank: Elder Joined: 6/23/2009 Posts: 13,559 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:sparkly wrote:snifadog wrote:obiero wrote:Ericsson wrote:sparkly wrote:obiero wrote:VituVingiSana wrote:sparkly wrote:Extraterrestrial wrote:In 2017, Kenya Airways lost approximately Kshs. 701m every month, using loss before tax figures.
In 2018, this figure narrowed to Kshs. 632m per month.
Therefore, the 20% "increase" in loss before tax did not reflect deterioration in conditions but rather the contrary.
Other costs per month down sharply from Kshs. 816m per month in 2017 to Kshs. 579m per month (-29%).
While the national carrier reported an operating loss, this was due to oil price volatility. They subsequently started hedging to manage fuel price risks. A reduced loss is not a profit. It is a further cummulative deterioration of the company position. You find yourself in a 20m hole. If you dig 7m metres more, you are not better off by digging 13m less. You are now in a 27m hole and climbing out will be much harder. But if they keep on digging, they will come out on the other side  @sparkly.. sometimes, its better to quite down than speak abstractly and make people question intellect. Of course a reduced loss is not a profit, but it remains a reduced loss! The hole was meant to be dug to 7 metres, but accidently went to 20 metres you are not better off by digging up additional metres. Its practical to backfill the soil slowly and compact it. You are now back to 13m wide hole against target of 7m hole. Which is not a bad thing My brother and fellow elder @Obiero, even as you do your PHD, never forget the basics. Let me remind you what a loss is, from basic accounting... A loss occurs when cash from your sales is not enough to pay for the costs of business. In the real world, a loss is represented by unpaid supliers, unpaid employees, unpaid loans, unpaid taxes and unhappy investors. A loss made in year 1 is carried forward to year 2. This simply means that the unpaid suppliers, employees, loans and taxes are not forgotten. They are still owing. Now, if you make another loss in year 2, you have another set of unpaid suppliers, employees, loans and taxes to deal with. This is in addition to your year 1 problems. Consequently elder Obiero, I submit that there is nothing to celebrate in "reduced losses". Reduced losses is just an excuse used by management trying to hold on to their jobs. waaah we have reached this level. Verbosity leans on emptiness.. KQ's problem is not cash flow Senior Obiero, sometimes I think you are not of sane mind. a mad scientist albeit. However, this will not end well for you. I am a minority shareholder in KQ but I have since accepted my fate There is nothing for minority shareholders in KQ How does it concern you? Pilipili usioila.. Taxpayers. Kwenda! Taxpayers have been keeping a moribund KQ alive. Kenyans will spend more on nationalization than the previously proposed PIIP
COOP 70,000 ABP 15.20; HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:sparkly wrote:snifadog wrote:obiero wrote:Ericsson wrote:sparkly wrote:obiero wrote:VituVingiSana wrote:sparkly wrote:Extraterrestrial wrote:In 2017, Kenya Airways lost approximately Kshs. 701m every month, using loss before tax figures.
In 2018, this figure narrowed to Kshs. 632m per month.
Therefore, the 20% "increase" in loss before tax did not reflect deterioration in conditions but rather the contrary.
Other costs per month down sharply from Kshs. 816m per month in 2017 to Kshs. 579m per month (-29%).
While the national carrier reported an operating loss, this was due to oil price volatility. They subsequently started hedging to manage fuel price risks. A reduced loss is not a profit. It is a further cummulative deterioration of the company position. You find yourself in a 20m hole. If you dig 7m metres more, you are not better off by digging 13m less. You are now in a 27m hole and climbing out will be much harder. But if they keep on digging, they will come out on the other side @sparkly.. sometimes, its better to quite down than speak abstractly and make people question intellect. Of course a reduced loss is not a profit, but it remains a reduced loss! The hole was meant to be dug to 7 metres, but accidently went to 20 metres you are not better off by digging up additional metres. Its practical to backfill the soil slowly and compact it. You are now back to 13m wide hole against target of 7m hole. Which is not a bad thing My brother and fellow elder @Obiero, even as you do your PHD, never forget the basics. Let me remind you what a loss is, from basic accounting... A loss occurs when cash from your sales is not enough to pay for the costs of business. In the real world, a loss is represented by unpaid supliers, unpaid employees, unpaid loans, unpaid taxes and unhappy investors. A loss made in year 1 is carried forward to year 2. This simply means that the unpaid suppliers, employees, loans and taxes are not forgotten. They are still owing. Now, if you make another loss in year 2, you have another set of unpaid suppliers, employees, loans and taxes to deal with. This is in addition to your year 1 problems. Consequently elder Obiero, I submit that there is nothing to celebrate in "reduced losses". Reduced losses is just an excuse used by management trying to hold on to their jobs. waaah we have reached this level. Verbosity leans on emptiness.. KQ's problem is not cash flow Senior Obiero, sometimes I think you are not of sane mind. a mad scientist albeit. However, this will not end well for you. I am a minority shareholder in KQ but I have since accepted my fate There is nothing for minority shareholders in KQ How does it concern you? Pilipili usioila.. Taxpayers. Kwenda! Taxpayers have been keeping a moribund KQ alive. Kenyans will spend more on nationalization than the previously proposed PIIP GoK should keep its end of the bargain and pay off KQLC. And then shutter "Old KQ" for good. 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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Kenya Airways Chief Operating Officer quitsThe Chief Operating Officer at Kenya Airways, Jan De Vegt, has resigned from his position after serving for three years. Jan De Vegt announced his resignation on twitter saying, “Kenya Airways decided to stop all support by KLM. For this reason, I am returning to Amsterdam. I very much appreciated your feedback and our discussions on this medium. Thanks for that! As there will be no COO in KQ from now on, I will close this account. Until we meet again!” According to the official, Kenya Airways decided to stop any support from its Dutch partner KLM. As a result, the five KLM staff members who worked at KQ plan to return to the Netherlands. However, Jan De Vegt said that the joint venture between Kenya Airways and KLM remains. The Chief Operating Officer was appointed to the position in August 2016 to replace Yves Guibert who served in the role for less than two years. The troubled air carrier has seen some of its top management leave including the CEO who announced his resignation in May. Jan De Vegt’s abrupt departure from KQ indicates a strained relationship between the Kenyan Airline and its Dutch partner KLM where Jan previously worked. Kenya Airways entered a joint venture with KLM in 1995 when the European airline bought a 26 per cent stake in KQ. After a restructuring process in 2017, KLM’s ownership in the Kenyan firm declined to 13 per cent. At the start of 2018, the two carriers signed an agreement to partner in their flights to and from Europe and East Africa. Kenya Airways will now run without a Chief Operating Officer until they get a replacement for Jan De Vegt. @Obiero told you KLM doesn't want anything to do with KQ. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Ericsson wrote:Kenya Airways Chief Operating Officer quits
The Chief Operating Officer at Kenya Airways, Jan De Vegt, has resigned from his position after serving for three years.
Jan De Vegt announced his resignation on twitter saying, “Kenya Airways decided to stop all support by KLM. For this reason, I am returning to Amsterdam. I very much appreciated your feedback and our discussions on this medium. Thanks for that! As there will be no COO in KQ from now on, I will close this account. Until we meet again!”
According to the official, Kenya Airways decided to stop any support from its Dutch partner KLM. As a result, the five KLM staff members who worked at KQ plan to return to the Netherlands. However, Jan De Vegt said that the joint venture between Kenya Airways and KLM remains.
The Chief Operating Officer was appointed to the position in August 2016 to replace Yves Guibert who served in the role for less than two years. The troubled air carrier has seen some of its top management leave including the CEO who announced his resignation in May.
Jan De Vegt’s abrupt departure from KQ indicates a strained relationship between the Kenyan Airline and its Dutch partner KLM where Jan previously worked.
Kenya Airways entered a joint venture with KLM in 1995 when the European airline bought a 26 per cent stake in KQ. After a restructuring process in 2017, KLM’s ownership in the Kenyan firm declined to 13 per cent. At the start of 2018, the two carriers signed an agreement to partner in their flights to and from Europe and East Africa.
Kenya Airways will now run without a Chief Operating Officer until they get a replacement for Jan De Vegt.
@Obiero told you KLM doesn't want anything to do with KQ. Tough times. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 1/18/2019 Posts: 185 Location: kenya
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Ericsson wrote:Kenya Airways Chief Operating Officer quits
The Chief Operating Officer at Kenya Airways, Jan De Vegt, has resigned from his position after serving for three years.
Jan De Vegt announced his resignation on twitter saying, “Kenya Airways decided to stop all support by KLM. For this reason, I am returning to Amsterdam. I very much appreciated your feedback and our discussions on this medium. Thanks for that! As there will be no COO in KQ from now on, I will close this account. Until we meet again!”
According to the official, Kenya Airways decided to stop any support from its Dutch partner KLM. As a result, the five KLM staff members who worked at KQ plan to return to the Netherlands. However, Jan De Vegt said that the joint venture between Kenya Airways and KLM remains.
The Chief Operating Officer was appointed to the position in August 2016 to replace Yves Guibert who served in the role for less than two years. The troubled air carrier has seen some of its top management leave including the CEO who announced his resignation in May.
Jan De Vegt’s abrupt departure from KQ indicates a strained relationship between the Kenyan Airline and its Dutch partner KLM where Jan previously worked.
Kenya Airways entered a joint venture with KLM in 1995 when the European airline bought a 26 per cent stake in KQ. After a restructuring process in 2017, KLM’s ownership in the Kenyan firm declined to 13 per cent. At the start of 2018, the two carriers signed an agreement to partner in their flights to and from Europe and East Africa.
Kenya Airways will now run without a Chief Operating Officer until they get a replacement for Jan De Vegt.
@Obiero told you KLM doesn't want anything to do with KQ. Jan literally said "Kenya Airways decided to stop all support by KLM" How does this mean KLM doesn't want anything to do with KQ?
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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nairobby wrote:Ericsson wrote:Kenya Airways Chief Operating Officer quits
The Chief Operating Officer at Kenya Airways, Jan De Vegt, has resigned from his position after serving for three years.
Jan De Vegt announced his resignation on twitter saying, “Kenya Airways decided to stop all support by KLM. For this reason, I am returning to Amsterdam. I very much appreciated your feedback and our discussions on this medium. Thanks for that! As there will be no COO in KQ from now on, I will close this account. Until we meet again!”
According to the official, Kenya Airways decided to stop any support from its Dutch partner KLM. As a result, the five KLM staff members who worked at KQ plan to return to the Netherlands. However, Jan De Vegt said that the joint venture between Kenya Airways and KLM remains.
The Chief Operating Officer was appointed to the position in August 2016 to replace Yves Guibert who served in the role for less than two years. The troubled air carrier has seen some of its top management leave including the CEO who announced his resignation in May.
Jan De Vegt’s abrupt departure from KQ indicates a strained relationship between the Kenyan Airline and its Dutch partner KLM where Jan previously worked.
Kenya Airways entered a joint venture with KLM in 1995 when the European airline bought a 26 per cent stake in KQ. After a restructuring process in 2017, KLM’s ownership in the Kenyan firm declined to 13 per cent. At the start of 2018, the two carriers signed an agreement to partner in their flights to and from Europe and East Africa.
Kenya Airways will now run without a Chief Operating Officer until they get a replacement for Jan De Vegt.
@Obiero told you KLM doesn't want anything to do with KQ. Jan literally said "Kenya Airways decided to stop all support by KLM" How does this mean KLM doesn't want anything to do with KQ? As reported herein earlier on, all KLM seconded employees ( expatriates) are leaving. Someone in KQ board decided to crack the whip and that is it. How can they be paid huge salaries without any tangible input? Very good decision to reject them, these are people who should have retired but KLM choose to send them to KQ. Huge burden on KQ finances if they were to stay. KALPA laid this bare during the parliamentary hearing, expatriates being paid too much for nothing.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 4/23/2014 Posts: 912
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Michael Joseph appointed as Safaricom's Interim Chief Executive Officer. “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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murchr wrote:Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. That is a very serious security breach at JKIA. There will be consequences.
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Rank: Member Joined: 6/15/2013 Posts: 301
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hardwood wrote:murchr wrote:Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. That is a very serious security breach at JKIA. There will be consequences. That guy must had been very desperate and brave at the same time. One can only imagine the cold he must have felt during that journey...
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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HaMaina wrote:Michael Joseph abandons loss making cash strapped KQ for profitable cash rich Safaricom.  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: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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@maka, who are the 18 expatriates again hired from Europe? Polish consultants?
The two roles created when COO post was scrapped - The two Kenyan KQ Managers appointed - how are they?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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ArrestedDev wrote:@maka, who are the 18 expatriates again hired from Europe? Polish consultants?
The two roles created when COO post was scrapped - The two Kenyan KQ Managers appointed - how are they? Which 18? There is only Clare Ward The CIO and Ursula... who know acts as CEO... Inafct she does even most of Sebastian's work... Well appointing a Captain as Director of Ground Services doesnt cut it for me that role needs someone who has a lot of time to visit the ramp/terminal attend the myriads of meetings etc Musila is suffering as Director of Fleet Development... Zero work. possunt quia posse videntur
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Rank: Veteran Joined: 4/23/2014 Posts: 912
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Kenya Airways Chief Operating Officer quits“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
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mulla wrote:hardwood wrote:murchr wrote:Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. That is a very serious security breach at JKIA. There will be consequences. That guy must had been very desperate and brave at the same time. One can only imagine the cold he must have felt during that journey... From what I read, the guy would have fainted long before the "cold" set in due to lack of oxygen. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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VituVingiSana wrote:mulla wrote:hardwood wrote:murchr wrote:Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. That is a very serious security breach at JKIA. There will be consequences. That guy must had been very desperate and brave at the same time. One can only imagine the cold he must have felt during that journey... From what I read, the guy would have fainted long before the "cold" set in due to lack of oxygen. Guy died before the plane left Kenya airspace. Oxygen is required above 15000 feet which is the around half of the cruising altitude. Life is short. Live passionately.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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sparkly wrote:VituVingiSana wrote:mulla wrote:hardwood wrote:murchr wrote:Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. That is a very serious security breach at JKIA. There will be consequences. That guy must had been very desperate and brave at the same time. One can only imagine the cold he must have felt during that journey... From what I read, the guy would have fainted long before the "cold" set in due to lack of oxygen. Guy died before the plane left Kenya airspace. Oxygen is required above 15000 feet which is the around half of the cruising altitude. Incredible that he didnt drop somewhere in the sahara "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
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murchr wrote:sparkly wrote:VituVingiSana wrote:mulla wrote:hardwood wrote:murchr wrote:Citizen wrote:A body on Sunday reportedly fell of the undercarriage of a Kenya Airways aircraft headed to London from Nairobi minutes before landing at the Heathrow Airport.
KQ, in a statement to newsrooms on Monday, said the body of the unidentified male stowaway landed in a garden in the Borough of Lambeth, South London.
The owner of the garden then called London’s Metropolitan Police who tracked the flight radar to KQ Flight 100 where – upon inspection – a bag containing some food and clothing was discovered at the rear left landing gear.
“The incident has been treated as a sudden death and is now a police matter. The police have already been in contact with the Kenya High Commission to help identify and name the person,” read the statement. That is a very serious security breach at JKIA. There will be consequences. That guy must had been very desperate and brave at the same time. One can only imagine the cold he must have felt during that journey... From what I read, the guy would have fainted long before the "cold" set in due to lack of oxygen. Guy died before the plane left Kenya airspace. Oxygen is required above 15000 feet which is the around half of the cruising altitude. Incredible that he didnt drop somewhere in the sahara Why would the pilots open the wheel well over the Sahara unless it is an emergency landing? 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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Michael Joseph take on KQ; Turnaround of KQ-KQ turnaround is not going to be quick,the airline is in deep financial trouble,it is going to take 3-5 years for turnaround,it will take time. Appointment of CEO;To turnaround an airline you need deep airline experience,not just somebody you pick from the shelf. Nationalisation of KQIt's not something that we want and would like to have .It's something that is necessary for the growth and survival of the airline. It will then be cross-Subsidised by the airport,airport services. KQ main competitors are 100% owned by the government.We want to compete at a level playing field. KQ is not a profit making organisation and would never be. Look at the impact KQ would have on the GDP of the country.Look at the impact of Ethiopian airlines on Addis,Emirates to Dubai,Turkish Airlines on Turkey Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 6/25/2009 Posts: 41
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Ericsson wrote:Michael Joseph take on KQ;
Turnaround of KQ
-KQ turnaround is not going to be quick,the airline is in deep financial trouble,it is going to take 3-5 years for turnaround,it will take time.
Appointment of CEO;
To turnaround an airline you need deep airline experience,not just somebody you pick from the shelf.
Nationalisation of KQ
It's not something that we want and would like to have .It's something that is necessary for the growth and survival of the airline.
It will then be cross-Subsidised by the airport,airport services.
KQ main competitors are 100% owned by the government.We want to compete at a level playing field.
KQ is not a profit making organisation and would never be.
Look at the impact KQ would have on the GDP of the country.Look at the impact of Ethiopian airlines on Addis,Emirates to Dubai,Turkish Airlines on Turkey
These assertions are conflicting,if it’s deep financial hole and would take 3-5 years and just had an airline turnaround expert what’s still wrong! How does nationalisation something I presume was left a while back be the panacea? Privatisation of KQ was hallowed in management books. My reading of what Speedway Consultants did was inculcation of operational efficiency ,financial discipline and professionalism things i think thawed as times went on as people took nearly everything for granted . Nationalisation is and should be a NO
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