KQ in yet another record loss

[kwesta]

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Seems like Naikuni pulled a Kidero on Kq, otherwise how do you explain 12.5 Billion shillings loss in six months??? That is almost a million dollars lost per day.

[RV Pundit]

It will go belly up at this rate.

[Georgesoros]

Why such a big loss when everyone wants in on Kenya?

[RV Pundit]

Wants what...KQ has been done by terrorism in kenya in tourism sector and ebola in the lucrative western africa route...they have to really cost cut....more retrenchment...more cost cutting...otherwise soon enough they will go bankrupt. At this stage..i doubt they are that many bankers giving them credit...and the few..will want interest rate higher enough.

Why such a big loss when everyone wants in on Kenya?

[Mintos]

they said the JKIA fire of last year is to blame!

they should just say mpeketony issue na travel advisories have done this loss.

[kwesta]

KQ is just one very inefficient airline, I remember reading someone that their personnel renumeration per capita is in the region of 30K USD while ethiopian Airlines is five times less.

Then of course we have people there running it like a family, and KQ having complete control of KCAA ane KAA...

Its a sad story

[bittertruth]

I have never believed that KQ is a private sector corporation, but rather a department in the public sector in which the top brass are appointed for their patronage, 'good looks' and 'fancy' academic papers other than any real merit. Pity to the share holders though.

Why does a CEO need Shs8 million a month? What do you do with that kind of money in Kenya?

[Olekoima]

I think the should be able to bounce back especially after fleet modernization. They now have some of the most efficient long haul planes. Hopefully they should be able to resume the lucrative west African route any time soon.

[bittertruth]

ole, I don't think so. Coming from a profit of 540M to a massive net loss of 10B, seems the company has been cooking figures and reporting non-existent profits per se.  I don't think its a coincidence that net loss comes immediately after change of CEO?

I think the should be able to bounce back especially after fleet modernization. They now have some of the most efficient long haul planes. Hopefully they should be able to resume the lucrative west African route any time soon.

[gout]

given the transition rates from nursery to primary school to secondary school and to colleges we should worry more about access ...more access

what qualifications do you need to take a bribe from cow boy contractors??

[gout]

looks like any Kenyan firm listening to likes of Citi will only go this route ...reason why can't understand why Coop Bank is hiring Mckinsey ...

didn't we learn from standard consultancy about MPEsa having 15000 users in 5 years?!!

[Olekoima]

ole, I don't think so. Coming from a profit of 540M to a massive net loss of 10B, seems the company has been cooking figures and reporting non-existent profits per se.  I don't think its a coincidence that net loss comes immediately after change of CEO?

I think the should be able to bounce back especially after fleet modernization. They now have some of the most efficient long haul planes. Hopefully they should be able to resume the lucrative west African route any time soon.

Well, may be you have a point. Let's wait for the next results.

[Mr Mansfield.]

The new 9 Boeing 787 will lower fuel and maintenance costs,loss went by 5BN as they disposed an old jet,four others to go,

Without Prejudice.