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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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maka wrote:Proper leadership...
Allan takes a 35% pay cut
Everyone in Excomm 25% pay cut
BOD won't be taking any allowance for any meeting....
Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Life is short. Live passionately.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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sparkly wrote:maka wrote:Proper leadership...
Allan takes a 35% pay cut
Everyone in Excomm 25% pay cut
BOD won't be taking any allowance for any meeting....
Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... possunt quia posse videntur
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Rank: Chief Joined: 1/3/2007 Posts: 18,207 Location: Nairobi
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Impunity wrote:Tough indeed, but we can still average down. "We" ni nani?  You sold out of everything.  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: 13,750 Location: nairobi
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maka wrote:sparkly wrote:maka wrote:Proper leadership...
Allan takes a 35% pay cut
Everyone in Excomm 25% pay cut
BOD won't be taking any allowance for any meeting....
Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... GoK will be there at all times for KQ
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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Rank: Elder Joined: 6/23/2009 Posts: 13,750 Location: nairobi
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maka wrote:sparkly wrote:maka wrote:Proper leadership...
Allan takes a 35% pay cut
Everyone in Excomm 25% pay cut
BOD won't be taking any allowance for any meeting....
Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... GoK will be there at all times for KQ
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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Rank: Member Joined: 8/6/2018 Posts: 299
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maka wrote:sparkly wrote:maka wrote:Proper leadership...
Allan takes a 35% pay cut
Everyone in Excomm 25% pay cut
BOD won't be taking any allowance for any meeting....
Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... What Happened to Plan to send Home People in Supply Chain Division?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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KaunganaDoDo wrote:maka wrote:sparkly wrote:maka wrote:Proper leadership...
Allan takes a 35% pay cut
Everyone in Excomm 25% pay cut
BOD won't be taking any allowance for any meeting....
Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... What Happened to Plan to send Home People in Supply Chain Division? They were sent home...Some resigned...Supply chain has some totally new people.... possunt quia posse videntur
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Rank: Member Joined: 6/1/2017 Posts: 288
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These airlines are such punks and shouldnt be bailed out considering how they use their cash.The 3 major airlines ie American Airlines,Delta Airlines and United Airlines have been using 96% of their Free Cash Flow (FCF) to buying back their own stock.  This is how corporate America works.Company executives buy their own stock (for themselves not the company initially)when prices are cheaper.Then by borrowing in the corporate bond market or from revenues generated from company activities,they have their firms buyback their own stock.This massively pushes up the stock plus sucks in other investors to buy into rising stock prices.Then these executives,having bought these equities earlier now sell back their holdings into the market at much higher prices raking in a hefty profit for the executives not the company.Also by buying back their own stock,they reduce the overall float of stocks in the publicly traded market thus Earnings per Share increases since the denominator ie floated shares reduces creating a false impression that their EPS is high due to more effective business operations.70% of the US stock market rise in the last 11 years is due to this stock buyback scheme. Now that the corporate bond market is in distress,these companies that borrowed to buy back their own stock are in trouble as the stocks are tanking massively so cannot pay back bond holders from proceeds of sales of their appreciating stock.Covid-19 just exacerbated the problem especially for airlines and now they need a bailout so that executives buy back their own stock and repeat the same shenanigans??Even Billionaire Mark Cuban is lamenting that this is ridiculous and that companies that get bailed out do not buy back their own stock  https://www.cnbc.com/202...-stocks-ever-again.html
Contrarian Investor and Trader.Advocate of free markets,limited government interference in the economy and sound money
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Rank: Hello Joined: 6/12/2018 Posts: 3
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the national carrier of Rwanda announced it will temporarily halt all flights for the next 30 days in light of the coronavirus pandemic. RwandAir joins an ever-growing list of airlines who have taken the decision to temporarily halt operations.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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@obiero are we getting out alive? 🙄🙄🙄
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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slick wrote:These airlines are such punks and shouldnt be bailed out considering how they use their cash.The 3 major airlines ie American Airlines,Delta Airlines and United Airlines have been using 96% of their Free Cash Flow (FCF) to buying back their own stock. This is how corporate America works.Company executives buy their own stock (for themselves not the company initially)when prices are cheaper.Then by borrowing in the corporate bond market or from revenues generated from company activities,they have their firms buyback their own stock.This massively pushes up the stock plus sucks in other investors to buy into rising stock prices.Then these executives,having bought these equities earlier now sell back their holdings into the market at much higher prices raking in a hefty profit for the executives not the company.Also by buying back their own stock,they reduce the overall float of stocks in the publicly traded market thus Earnings per Share increases since the denominator ie floated shares reduces creating a false impression that their EPS is high due to more effective business operations.70% of the US stock market rise in the last 11 years is due to this stock buyback scheme. Now that the corporate bond market is in distress,these companies that borrowed to buy back their own stock are in trouble as the stocks are tanking massively so cannot pay back bond holders from proceeds of sales of their appreciating stock.Covid-19 just exacerbated the problem especially for airlines and now they need a bailout so that executives buy back their own stock and repeat the same shenanigans??Even Billionaire Mark Cuban is lamenting that this is ridiculous and that companies that get bailed out do not buy back their own stock https://www.cnbc.com/202...-stocks-ever-again.html
A good explanation Life is short. Live passionately.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... possunt quia posse videntur
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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maka wrote:lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent....   possunt quia posse videntur
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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maka wrote:maka wrote:lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! Life is short. Live passionately.
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Rank: Elder Joined: 6/23/2009 Posts: 13,750 Location: nairobi
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sparkly wrote:maka wrote:maka wrote:lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! Kenya is in trouble, not KQ
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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sparkly wrote:maka wrote:maka wrote:lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! . A CEO who thinks like this is not fit to drive this Company out of the bad management it has been through for so many years. What about employees who are living from hand to mouth, relying from paycheck to paycheck? Salary reduction should apply to senior executives only. What they need to do is to ask for a bailout from the government. This is the only way out. Reducing salaries of junior employees is a drop in the ocean. What about lease costs for planes that will be parked for months? Does Allan want to tell us the savings from the salaries is enough to service the lease costs and other loans. A serious executive will negotiate at first instance with banks on the loans they are servicing and aircraft lessors regarding ways to defer the monthly repayments. The letter above addressed to the employees does not mention of such a discussion, only a sentence talks about the government. By increasing his paycut by 5% to 80% is just laughable.
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Rank: Elder Joined: 6/23/2009 Posts: 13,750 Location: nairobi
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the deal wrote:@obiero are we getting out alive? 🙄🙄🙄 We will be hit hard but massive GoK support is now guaranteed. Albeit maybe too late
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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Rank: Elder Joined: 6/23/2009 Posts: 13,750 Location: nairobi
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ArrestedDev wrote:sparkly wrote:maka wrote:maka wrote:lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! . A CEO who thinks like this is not fit to drive this Company out of the bad management it has been through for so many years. What about employees who are living from hand to mouth, relying from paycheck to paycheck? Salary reduction should apply to senior executives only. What they need to do is to ask for a bailout from the government. This is the only way out. Reducing salaries of junior employees is a drop in the ocean. What about lease costs for planes that will be parked for months? Does Allan want to tell us the savings from the salaries is enough to service the lease costs and other loans. A serious executive will negotiate at first instance with banks on the loans they are servicing and aircraft lessors regarding ways to defer the monthly repayments. The letter above addressed to the employees does not mention of such a discussion, only a sentence talks about the government. By increasing his paycut by 5% to 80% is just laughable. 80% pay cut isn't laughable.. The staff were always the problem at KQ
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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