Dr Nancy Gitau relocate to Australia as project fails

[Nefertiti]

Uhuru long took his cut in KQ - just like SGR. Bailout or duty-free shop is opex budget. He is a thief not a fool.

[RV Pundit]

NCBA is biggest shareholder amongst the banks - who were forced - to own KQ

Uhuru long took his cut in KQ - just like SGR. Bailout or duty-free shop is opex budget. He is a thief not a fool.

[RV Pundit]

Most of planes were financed by ADB 's AfriEximBank..KQ has been "leasing"...10yrs later..they should be on a part to owning them.

i believe lots of kickbacks were long pocketed in the harebrained  KQ Vision Mawingu. Billions were paid out on fishy projections - the bailouts are just small topup. Yaani the dozens Dreamliners are liabilities instead of assets  - MJ was brought in to launder Uhuru cash - by renegotiating with Exim & Boeing to restructure the loans.

Ndii was onto them from day one.

Purchasing planes is not aviation.It's financing. Flying them is aviation. The planes were bought for 70B or about...financed by EximBanks...registered in some island like ships..until it's fully paid. KQ in meantime leases them...though it own them technically. Sometimes it leases them out.

[Pragmatic]

RV to be honest you dont know anything about aviation and for that matter KQ. Continue to google.

You're an idiot my friend. Study these things. Then engage me. KQ had no money to buy dreamliner. It approach US eximbank for 1 or 2 planes....and Afriexim bank for other planes...first thing they get kenya gov guranteees....second layer...they insist the planes be registered in some islands...jointly..and leased to KQ....until it pay off..

RV , Kichwa ngumu. Kenya Government is the Gurantor of the loans KQ took for the bail out . In addition it reached a level where Kenyan Government started bailing out KQ directly.
RV confuses Bail out with Aircraft Leasing. 2 different entities.
However the big junk of bail out monies goes to pay the lease charges.
If RV was diligent enough he would google further and learn to listen. Shida ujuaji mwingi......

[RV Pundit]

Apart from the useless insults - you havent provided any info.
The gov exposure in KQ is very limited - because those planes were never really transferred to KQ. It secured loan. They will only come for GoK if after selling them - we still owe them.
We are only keeping KQ alive because Uhuru kenyattas NCBA 10B
Otherwise we should long have killed it.

https://www.standardmedia.co.ke/business/news/article/2001320411/kenya-airways-lifts-lid-on-financiers-of-their-controversial-aircrafts

RV to be honest you dont know anything about aviation and for that matter KQ. Continue to google.

You're an idiot my friend. Study these things. Then engage me. KQ had no money to buy dreamliner. It approach US eximbank for 1 or 2 planes....and Afriexim bank for other planes...first thing they get kenya gov guranteees....second layer...they insist the planes be registered in some islands...jointly..and leased to KQ....until it pay off..

RV , Kichwa ngumu. Kenya Government is the Gurantor of the loans KQ took for the bail out . In addition it reached a level where Kenyan Government started bailing out KQ directly.
RV confuses Bail out with Aircraft Leasing. 2 different entities.
However the big junk of bail out monies goes to pay the lease charges.
If RV was diligent enough he would google further and learn to listen. Shida ujuaji mwingi......

[Githunguri]

i believe lots of kickbacks were long pocketed in the harebrained  KQ Vision Mawingu. Billions were paid out on fishy projections - the bailouts are just small topup. Yaani the dozens Dreamliners are liabilities instead of assets  - MJ was brought in to launder Uhuru cash - by renegotiating with Exim & Boeing to restructure the loans.

Ndii was onto them from day one.

Purchasing planes is not aviation.It's financing. Flying them is aviation. The planes were bought for 70B or about...financed by EximBanks...registered in some island like ships..until it's fully paid. KQ in meantime leases them...though it own them technically. Sometimes it leases them out.

I think it's very simple..

1) Project project Mawingu was about buying I think 10 Boeing 787 planes at $2BN USD...I think somebody cashed out his $200MN USD kickback and left KQ to sink.

2) Who provides insurance to KQ?
Who sells Fuel to KQ?
Who sells Spare parts to KQ?
Who sells food to KQ?

3) When the government gives KQ 25BN annually...It's paying supplier of DEBT PARTS INSURANCE FOOD..I think majority of these suppliers are Kenyattas.Maybe Raila is the one who supplies fuel...I don't know.

In the event Ruto become a president..He will continue with this cartel,He cannot kill KQ he can only change suppliers from kenyatta to Nick Ruto not a foolish blogger.If Uhuru and Raila agree to give him peace he leaves the 50%.

[Githunguri]

Apart from the useless insults - you havent provided any info.
The gov exposure in KQ is very limited - because those planes were never really transferred to KQ. It secured loan. They will only come for GoK if after selling them - we still owe them.
We are only keeping KQ alive because Uhuru kenyattas NCBA 10B
Otherwise we should long have killed it.

https://www.standardmedia.co.ke/business/news/article/2001320411/kenya-airways-lifts-lid-on-financiers-of-their-controversial-aircrafts

RV to be honest you dont know anything about aviation and for that matter KQ. Continue to google.

You're an idiot my friend. Study these things. Then engage me. KQ had no money to buy dreamliner. It approach US eximbank for 1 or 2 planes....and Afriexim bank for other planes...first thing they get kenya gov guranteees....second layer...they insist the planes be registered in some islands...jointly..and leased to KQ....until it pay off..

RV , Kichwa ngumu. Kenya Government is the Gurantor of the loans KQ took for the bail out . In addition it reached a level where Kenyan Government started bailing out KQ directly.
RV confuses Bail out with Aircraft Leasing. 2 different entities.
However the big junk of bail out monies goes to pay the lease charges.
If RV was diligent enough he would google further and learn to listen. Shida ujuaji mwingi......

Uhuru has borrowed KES 6 Trillion since he took power in 2013.That means his bank account are somewhere about $5BN USD,What is $100MN to him?

He can just set up a company in Hong Kong with a Mzungu CEO like biwott used to do and bailout NCBA.

[RV Pundit]

Do proper research. Mawingu project was abanonded midstream when KQ got into fuel hedging problems. The loan they took is about 700M.

i believe lots of kickbacks were long pocketed in the harebrained  KQ Vision Mawingu. Billions were paid out on fishy projections - the bailouts are just small topup. Yaani the dozens Dreamliners are liabilities instead of assets  - MJ was brought in to launder Uhuru cash - by renegotiating with Exim & Boeing to restructure the loans.

Ndii was onto them from day one.

Purchasing planes is not aviation.It's financing. Flying them is aviation. The planes were bought for 70B or about...financed by EximBanks...registered in some island like ships..until it's fully paid. KQ in meantime leases them...though it own them technically. Sometimes it leases them out.

I think it's very simple..

1) Project project Mawingu was about buying I think 10 Boeing 787 planes at $2BN USD...I think somebody cashed out his $200MN USD kickback and left KQ to sink.

2) Who provides insurance to KQ?
Who sells Fuel to KQ?
Who sells Spare parts to KQ?
Who sells food to KQ?

3) When the government gives KQ 25BN annually...It's paying supplier of DEBT PARTS INSURANCE FOOD..I think majority of these suppliers are Kenyattas.Maybe Raila is the one who supplies fuel...I don't know.

In the event Ruto become a president..He will continue with this cartel,He cannot kill KQ he can only change suppliers from kenyatta to Nick Ruto not a foolish blogger.If Uhuru and Raila agree to give him peace he leaves the 50%.

[Githunguri]

Do proper research. Mawingu project was abanonded midstream when KQ got into fuel hedging problems. The loan they took is about 700M.

i believe lots of kickbacks were long pocketed in the harebrained  KQ Vision Mawingu. Billions were paid out on fishy projections - the bailouts are just small topup. Yaani the dozens Dreamliners are liabilities instead of assets  - MJ was brought in to launder Uhuru cash - by renegotiating with Exim & Boeing to restructure the loans.

Ndii was onto them from day one.

Purchasing planes is not aviation.It's financing. Flying them is aviation. The planes were bought for 70B or about...financed by EximBanks...registered in some island like ships..until it's fully paid. KQ in meantime leases them...though it own them technically. Sometimes it leases them out.

I think it's very simple..

1) Project project Mawingu was about buying I think 10 Boeing 787 planes at $2BN USD...I think somebody cashed out his $200MN USD kickback and left KQ to sink.

2) Who provides insurance to KQ?
Who sells Fuel to KQ?
Who sells Spare parts to KQ?
Who sells food to KQ?

3) When the government gives KQ 25BN annually...It's paying supplier of DEBT PARTS INSURANCE FOOD..I think majority of these suppliers are Kenyattas.Maybe Raila is the one who supplies fuel...I don't know.

In the event Ruto become a president..He will continue with this cartel,He cannot kill KQ he can only change suppliers from kenyatta to Nick Ruto not a foolish blogger.If Uhuru and Raila agree to give him peace he leaves the 50%.

If it's the case...somebody still made his 5BN Cut.

[RV Pundit]

Of course Naikuni and his guys made money.

If it's the case...somebody still made his 5BN Cut.

[Nowayhaha]

https://nipate.net/index.php?topic=8769.new#new

[Nowayhaha]

When you hear someone saying KQ acquisation of the Aircrafts was through sovereign gurantees and Kenya Govt were giving the gurantees . Then you know he doesnt understand the complex web of Aircraft acqusation.
To help him he needs to read this report to first have an idea how aircraft financing is done.
https://img.exim.gov/s3fs-public/oig/reports/FINAL%20-%20Inspection%20Report%20KQ%20-%2009262018_Redacted.pdf

RV to be honest you dont know anything about aviation and for that matter KQ. Continue to google.

You're an idiot my friend. Study these things. Then engage me. KQ had no money to buy dreamliner. It approach US eximbank for 1 or 2 planes....and Afriexim bank for other planes...first thing they get kenya gov guranteees....second layer...they insist the planes be registered in some islands...jointly..and leased to KQ....until it pay off..

RV , Kichwa ngumu. Kenya Government is the Gurantor of the loans KQ took for the bail out . In addition it reached a level where Kenyan Government started bailing out KQ directly.
RV confuses Bail out with Aircraft Leasing. 2 different entities.
However the big junk of bail out monies goes to pay the lease charges.
If RV was diligent enough he would google further and learn to listen. Shida ujuaji mwingi......

[RV Pundit]

You're saying nothing. You link to a thread where you said nothing.
If you cannot explain something using PLAIN ENGLISH - then you know nothing regarding the topic.
US Exim Bank, AfriExim Bank, CitiBank and Stanchart Bank financed the purchase of KQ jets.
They also got the gov of Kenya to guarantee it.
And they also did not transfer the ownership of jets to Kenya Airways as the loan is charged to them.
They are jointly owned by KQ and the financiers in  small islands to protect them from being seized by any tom dick and harry who has issue with Kenya gov.
Like those TZ jets that have been seized in South Africa and Canada.
The same way ships are registered in small islands
Those small islands - are not exclusively meant for criminal activities - they are there to protect international trade like airlines and shipping.
Those planes are then "leased" to KQ and sometimes other airlines...leasing money going to service the loan.
KQ will take full ownership once it repay the loan if ever.
If Kenya gov and banks who own KQ decide to kill KQ.
Then financiers will sell the planes...deduct the balances...and give KQ any remaining proceeds.
If they are not sufficient..Kenya gov will pay the balances.

When you hear someone saying KQ acquisation of the Aircrafts was through sovereign gurantees and Kenya Govt were giving the gurantees . Then you know he doesnt understand the complex web of Aircraft acqusation.
To help him he needs to read this report to first have an idea how aircraft financing is done.
https://img.exim.gov/s3fs-public/oig/reports/FINAL%20-%20Inspection%20Report%20KQ%20-%2009262018_Redacted.pdf

[Nowayhaha]

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

You're saying nothing. You link to a thread where you said nothing.
If you cannot explain something using PLAIN ENGLISH - then you know nothing regarding the topic.
US Exim Bank, AfriExim Bank, CitiBank and Stanchart Bank financed the purchase of KQ jets.
They also got the gov of Kenya to guarantee it.
And they also did not transfer the ownership of jets to Kenya.
They are jointly owned by KQ and the financiers in  small islands to protect them from being seized by any tom dick and harry who has issue with Kenya gov.
Like those TZ jets that have been seized in South Africa and Canada.
The same way ships are registered in small islands
Those small islands - are not exclusively meant for criminal activities - they are there to protect international trade like airlines and shipping.
Those planes are then "leased" to KQ.
KQ will take full ownership once it repay the loan if ever.
If Kenya gov and banks who own KQ decide to kill KQ.
Then financiers will sell the planes...deduct the balances...and give KQ any proceeds.
If they are not sufficient..Kenya gov will pay the balances.

When you hear someone saying KQ acquisation of the Aircrafts was through sovereign gurantees and Kenya Govt were giving the gurantees . Then you know he doesnt understand the complex web of Aircraft acqusation.
To help him he needs to read this report to first have an idea how aircraft financing is done.
https://img.exim.gov/s3fs-public/oig/reports/FINAL%20-%20Inspection%20Report%20KQ%20-%2009262018_Redacted.pdf

[RV Pundit]

Those are details.
This how planes are always bought.
KQ approaches international banks - who finance the purchase - be it from Boeing or Embarer.
These are secured loans charged to the jets....with treasury providing gurantees.
The jets are registered in small island - jointly with the financiers.
KQ then "leases" the planes until it's full paid.
Those special purpose vehicles companies are then deregistered and the planes are now owned by KQ.
KQ then stops leasing the planes.

Where does Kenyatta come in? Because these SPVS are in small tax or wealth heavens?

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

[RV Pundit]

And please understand the role of EximBank - they just facilitate international trade - by issuing LOC- and handling soverign gurantees. The real financiers are the international banks.

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

[Nowayhaha]

I asked a simple question

Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

What do you understand by this ?

Transaction Structure
As   a   standard   asset?based   financing   without   a   sovereign   guarantee,   the   2014   KQ
transaction   was   structured   using   a   special   purpose   company   (SPC)   and   finance   lease.   
Figure   1   below   includes   an   illustration   of   an   EXIM   finance   lease   structure   for   aircraft   
transactions.17   As   the   SPC,   Tsavo   Aircraft   Financing   LLC   (Tsavo)   as   obligor   owns   and   leases   
the   EXIM   guaranteed   aircraft   to   KQ   pursuant   to   12?year   asset?backed   finance   leases   with   
straight?line   amortization.   The   primary   source   of   repayment   (PSOR)   for   the   transaction   is   
the   cash   flow   generation of   the   Lessee,   KQ,   which   makes   lease   payments   to   the   borrower   
Lessor,   Tsavo.   The   secondary   or   supporting   source   of   repayment   is   the   residual   value   of   the   
secured   aircraft   as   measured   by   the   loan   to   value   ratio.   
JP   Morgan   Chase   and   Citigroup   Global   Markets,   Inc.   were   the   EXIM   guaranteed   lenders   
under   the   2014   transaction.   Wells Fargo   Bank   served   as   the   security   trustee   of the   EXIM   
guarantee.   The   African   Export?Import   Bank   provided   subordinated financing for   the
portion   of   the   aircraft   price   and   acquisition   fees   not   supported   by   the   EXIM   guaranteed  financing.

Those are details.
This how planes are always bought.
KQ approaches international banks - who finance the purchase - be it from Boeing or Embarer.
These are secured loans charged to the jets....with treasury providing gurantees.
The jets are registered in small island - jointly with the financiers.
KQ then "leases" the planes until it's full paid.
Those special purpose vehicles companies are then deregistered and the planes are now owned by KQ.
KQ then stops leasing the planes.

Where does Kenyatta come in? Because these SPVS are in small tax or wealth heavens?

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

[Nowayhaha]

Good that you now understand their role after reading the article . A clear climb down from your previous insinuations .

And please understand the role of EximBank - they just facilitate international trade - by issuing LOC- and handling soverign gurantees. The real financiers are the international banks.

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

[RV Pundit]

You're looping.
You point is that Uhuru owns the planes not financier.
Your evidence is donge? hakuna? null and void

Good that you now understand their role after reading the article . A clear climb down from your previous insinuations .

And please understand the role of EximBank - they just facilitate international trade - by issuing LOC- and handling soverign gurantees. The real financiers are the international banks.

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..

[Nowayhaha]

You are evading the question. You need to answer it and you will realise how complex web of transaction is .
If Kenyan Govt didnt provide gurantees , who did ? There you have you answers.....You need to go back to First 737-300s through Simba SPV. There another prominent family also featured.

You're looping.
You point is that Uhuru owns the planes not financier.
Your evidence is donge? hakuna? null and void

Good that you now understand their role after reading the article . A clear climb down from your previous insinuations .

And please understand the role of EximBank - they just facilitate international trade - by issuing LOC- and handling soverign gurantees. The real financiers are the international banks.

Good that after fuether reading you have expanded banks from Exim to Citibank, AfroExim , Standchart continue to JP Morgan and Wells Fargo.
Now can you quote from the article where it says Kenyan Govt guranteed the loans of the Aircraft acquisations..