Amicabre has refused to ferry staff until they are paid....expected delays...more money to be spent on HOTAC...vicious cycle....

@maka?

Ulifika works aje?

Not seeing delays or cancellations on the departures for today.. Seems the hiccup was sorted

Na Uber...first pick up was at 5.15 am after the firm was promised cash in the course of the day but honestly...for how long will this continue...when will the situation improve,living hand to mouth.

Dear @Obiero,

Please ask your buddy Alex if KenolKobil is owed anything by KQ?
If yes, please pay up so that my dividend isn't held hostage.

Sincerely,

VVS

KQ, Uchumi’s decline to zero net worth puts CMA on the spot

"National carrier Kenya Airways tops the list having chalked up liabilities in excess of its assets "...

"Analysts said the logical thing for the regulator to do was to suspend a company from trading on the NSE once its net-worth has dropped to zero, meaning it has become a liability to the owners. Such action is followed by the regulator asking the directors and the management of such companies to table before investors proposals on how they plan to recover with specific milestones. The alternative is to ask the companies to go into voluntary receivership or bankruptcy."

Suspension of an insolvent companies from the NSE or the slipping of such a company into bankruptcy would give it time to assess the possibility of getting back to business or should in fact be liquidated to save owners from further losses. Where a company has a negative working capital it should show how it will do business in the next one year.
Analysts also said it was unethical for directors and management to continue running an organisation they have reason to believe is facing serious hurdles in doing business, thereby giving false hopes to investors, employees, supplies and financiers.

Mr Muthusi said that once a company falls into insolvency, the best thing to do is to allow it to fall into receivership to sort out the problems or liquidate it.

“Once you start making losses it eats into capital and insolvency becomes end result unless there is some intervention. An insolvent company is no longer owned by shareholders — as it might legally appear — but in fact by creditors,” said Mr Muthusi, adding that many firms collapse because of corporate governance rather than market failure.

“The board and management normally know at least two years in advance that a company is in some difficulties. That is why they are responsible for whatever happens. They can be sued for not properly notifying stakeholders. Again you shouldn’t be trading on the stock exchange if you are bankrupt.”

Ms Waitherero said the regulator should protect investors by suspending a financially distressed company till they put their house in order. “When you see the problems are a bit extended and not a one-off the good this is to suspend the company from trading,” said Ms Waitherero.

I'm certain what @vvs means is that KQ also work on improving its yields & margins. That way KQ can continue to fly KK's expansive Pan-African footprint.

If ever KK re-enters the JetA1 segment, @vvs keep us briefed

seen @kenyanWallstreet