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Kenya Airways...why ignore.. end 2025
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VituVingiSana
#7181 Posted : Sunday, March 12, 2017 11:47:26 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,437
Location: Nairobi
Impunity wrote:
obiero wrote:
VituVingiSana wrote:
Horton wrote:
obiero wrote:
alotoftalk wrote:
VituVingiSana wrote:
Why would KQ sell & then lease back aircraft for 18 months when they will be scrapped after the lease expires?
http://m.atwonline.com/l...sale-and-leaseback-deal
Why even sell them?
Selling them means a commission was paid. Then leasing them back means another fee is paid. Lease payments include financing costs. Finally when scrapped, KQ might get nothing.
Couldn't KQ sweat the aircraft over 2 years before scrapping them?


Financial engineering 101 through lease accounting.

Some people are beyond redemption


https://beta.theglobeand....com&service=mobile

So Air Canada doing something similar and turning a profit. Only difference is these are B787s vs B737

The 787s are new aircraft and have another 15 yrs life. These 737s are almost dead. The article says they will be retired/scrapped after KQ is done ie in 18 months.

So let me understand.. You would have preferred that KQ holds on to the depreciating craft for an extra 2 years so that they sell at a total loss and at the same time, keep incurring finance costs


You don't need to explain some facts to some people.

😂😂😂 @Impunity - I see he is still getting perks coz his mboy hasn't left. MJ will not brook such payouts... 😜😜😜
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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maka
#7182 Posted : Monday, March 13, 2017 2:38:28 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
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obiero
#7183 Posted : Monday, March 13, 2017 7:16:14 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,476
Location: nairobi
ArrestedDev wrote:
obiero wrote:
maka wrote:
Crazy stories about how Revenue management guys were stealing...some even had a parallel ticketing system ...crazy.

We agreed with unison here that the losses were man made.. KQ should never have reported a loss in the first place.. Plain thuggery happened




@maka, Is this a new revelation? Or is it Mckinsey/ findings of the forensic audit.

If it is a new finding then my credit goes to the new Commercial Director. This is enough evidence for you guys to know that what is needed is a strong manager and not consultants and anything else. It paints a clear picture that all the managers/directors who held that position were very poor in management. The same applies to Ngunze, wait and see what the new CEO will do. You will notice the difference immediately he starts work.

Ngunze headed out in exactly 2 months.. May the new CEO bring us even better tidings
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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ArrestedDev
#7184 Posted : Monday, March 13, 2017 7:34:47 AM
Rank: Member

Joined: 5/29/2016
Posts: 898
Location: Nairobi
VituVingiSana wrote:
Impunity wrote:
obiero wrote:
VituVingiSana wrote:
Horton wrote:
obiero wrote:
alotoftalk wrote:
VituVingiSana wrote:
Why would KQ sell & then lease back aircraft for 18 months when they will be scrapped after the lease expires?
http://m.atwonline.com/l...sale-and-leaseback-deal
Why even sell them?
Selling them means a commission was paid. Then leasing them back means another fee is paid. Lease payments include financing costs. Finally when scrapped, KQ might get nothing.
Couldn't KQ sweat the aircraft over 2 years before scrapping them?


Financial engineering 101 through lease accounting.

Some people are beyond redemption


https://beta.theglobeand....com&service=mobile

So Air Canada doing something similar and turning a profit. Only difference is these are B787s vs B737

The 787s are new aircraft and have another 15 yrs life. These 737s are almost dead. The article says they will be retired/scrapped after KQ is done ie in 18 months.

So let me understand.. You would have preferred that KQ holds on to the depreciating craft for an extra 2 years so that they sell at a total loss and at the same time, keep incurring finance costs


You don't need to explain some facts to some people.

😂😂😂 @Impunity - I see he is still getting perks coz his mboy hasn't left. MJ will not brook such payouts... 😜😜😜



Let me chip in. KQ is still in dire need of cash inflows. The only faster way to get it is to sell assests.

These are very desperate measures and it will not go on for long. A further bailout from the government is required soon or later.
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ArrestedDev
#7185 Posted : Monday, March 13, 2017 7:54:46 AM
Rank: Member

Joined: 5/29/2016
Posts: 898
Location: Nairobi
obiero wrote:
maka wrote:
Crazy stories about how Revenue management guys were stealing...some even had a parallel ticketing system ...crazy.

We agreed with unison here that the losses were man made.. KQ should never have reported a loss in the first place.. Plain thuggery happened




@maka, Is this a new revelation? Or is it Mckinsey/ findings of the forensic audit.

If it is a new finding then my credit goes to the new Commercial Director. This is enough evidence for you guys to know that what is needed is a strong manager and not consultants and anything else. It paints a clear picture that all the managers/directors who held that position were very poor in management. The same applies to Ngunze, wait and see what the new CEO will do. You will notice the difference immediately he starts work.
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ARAP CHARLES
#7186 Posted : Monday, March 13, 2017 1:01:12 PM
Rank: Member

Joined: 5/30/2016
Posts: 217
Location: Talai
Haiya some news just landed... anybody with 411.. please OBIERO ADVICE
Watch and Listen and Live
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maka
#7187 Posted : Monday, March 13, 2017 1:06:53 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
ArrestedDev wrote:
obiero wrote:
maka wrote:
Crazy stories about how Revenue management guys were stealing...some even had a parallel ticketing system ...crazy.

We agreed with unison here that the losses were man made.. KQ should never have reported a loss in the first place.. Plain thuggery happened




@maka, Is this a new revelation? Or is it Mckinsey/ findings of the forensic audit.

If it is a new finding then my credit goes to the new Commercial Director. This is enough evidence for you guys to know that what is needed is a strong manager and not consultants and anything else. It paints a clear picture that all the managers/directors who held that position were very poor in management. The same applies to Ngunze, wait and see what the new CEO will do. You will notice the difference immediately he starts work.


New stuff the details of the whole story...
possunt quia posse videntur
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Jibabe
#7188 Posted : Monday, March 13, 2017 6:05:05 PM
Rank: Member

Joined: 6/25/2009
Posts: 41
Who's Geoffrey Mugendo hear a parking spot at KQ labeld as such
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maka
#7189 Posted : Monday, March 13, 2017 7:06:41 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Jibabe wrote:
Who's Geoffrey Mugendo hear a parking spot at KQ labeld as such


Really by name?He is in supply chain...
possunt quia posse videntur
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ArrestedDev
#7190 Posted : Tuesday, March 14, 2017 9:35:48 AM
Rank: Member

Joined: 5/29/2016
Posts: 898
Location: Nairobi
maka wrote:
Jibabe wrote:
Who's Geoffrey Mugendo hear a parking spot at KQ labeld as such


Really by name?He is in supply chain...


What's the news here? Is this another corrupt individual in KQ. Let them be flushed out.
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