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Kenya Airways...why ignore..
Rank: Chief Joined: 1/3/2007 Posts: 18,188 Location: Nairobi
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The negative capital position has seen the Nairobi Securities Exchange-listed firm rely on the goodwill of creditors to continue operating, with its auditors emphasising uncertainty as to its ability to carry on as a going concern. http://www.businessdaily...73030-wviam5/index.html
Ohhh! @VVS is not Kenyan
Ohhh! @VVS is *@#X&%!
Ohhh! @VVS hates KQ
Ohhh! @VVS bought Olympia and DeaconsSuch a meeting does not allow any other issue to be considered but KQ, as the airline is known by its international code, has lumped the matter with its other AGM agenda items for the September 29 meeting. The idea is to sweep the matter under the rug as one of the agenda items.The law requires such a meeting to be held not later than 56 days from the date directors of a public company become aware of the depleted asset position, with failure to do so amounting to an offence carrying a fine of Sh500,000 for each of the board members. The directors have known this for much longer than 56 days. The Negative Equity position is more than 1 year old. The directors should be jailed.
The mounting liabilities came as the airline made a record net loss of Sh26.2 billion in the review period, widening the Sh25.7 billion net loss the year before. 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: 13,711 Location: nairobi
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Money is on the way.. Fortune favors the bold
COOP 255,000 ABP 15.85; KQ 544,100 ABP 7.15; MTN 23,800 ABP 5.20
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Any way you put is all about corruption. He is there to be used to ferry ballot boxes for rigging, the way he did in 2013. Whether jubilee paid or not is a different issue.
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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VituVingiSana wrote:The negative capital position has seen the Nairobi Securities Exchange-listed firm rely on the goodwill of creditors to continue operating, with its auditors emphasising uncertainty as to its ability to carry on as a going concern. http://www.businessdaily...73030-wviam5/index.html
Ohhh! @VVS is not Kenyan
Ohhh! @VVS is *@#X&%!
Ohhh! @VVS hates KQ
Ohhh! @VVS bought Olympia and DeaconsSuch a meeting does not allow any other issue to be considered but KQ, as the airline is known by its international code, has lumped the matter with its other AGM agenda items for the September 29 meeting. The idea is to sweep the matter under the rug as one of the agenda items.The law requires such a meeting to be held not later than 56 days from the date directors of a public company become aware of the depleted asset position, with failure to do so amounting to an offence carrying a fine of Sh500,000 for each of the board members. The directors have known this for much longer than 56 days. The Negative Equity position is more than 1 year old. The directors should be jailed.
The mounting liabilities came as the airline made a record net loss of Sh26.2 billion in the review period, widening the Sh25.7 billion net loss the year before. KQ is like a carcass. The new company law cannot be applied retrospectively. KQ's depleted capital position occurred way before the law came into effect and hence the directors are not liable. This position was observed in the case of Uchumi where they wanted to rely on the new law to defend the winding suit that had been filed by some suppliers.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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ArrestedDev wrote:VituVingiSana wrote:The negative capital position has seen the Nairobi Securities Exchange-listed firm rely on the goodwill of creditors to continue operating, with its auditors emphasising uncertainty as to its ability to carry on as a going concern. http://www.businessdaily...73030-wviam5/index.html
Ohhh! @VVS is not Kenyan
Ohhh! @VVS is *@#X&%!
Ohhh! @VVS hates KQ
Ohhh! @VVS bought Olympia and DeaconsSuch a meeting does not allow any other issue to be considered but KQ, as the airline is known by its international code, has lumped the matter with its other AGM agenda items for the September 29 meeting. The idea is to sweep the matter under the rug as one of the agenda items.The law requires such a meeting to be held not later than 56 days from the date directors of a public company become aware of the depleted asset position, with failure to do so amounting to an offence carrying a fine of Sh500,000 for each of the board members. The directors have known this for much longer than 56 days. The Negative Equity position is more than 1 year old. The directors should be jailed.
The mounting liabilities came as the airline made a record net loss of Sh26.2 billion in the review period, widening the Sh25.7 billion net loss the year before. KQ is like a carcass. The new company law cannot be applied retrospectively. KQ's depleted capital position occurred way before the law came into effect and hence the directors are not liable. This position was observed in the case of Uchumi where they wanted to rely on the new law to defend the winding suit that had been filed by some suppliers. Let me enjoy my buddy tickets before it goes down... Fare Details 1 Adult @ KES 16705 16705 [Fare(s) include Base Fare] Tax and Fees YQ - 1 Adult @ KES 0 0 YR - 1 Adult @ KES 0 0 TU - 1 Adult @ KES 5220 5220 EV - 1 Adult @ KES 145 145 ZA - 1 Adult @ KES 2465 2465 UM - 1 Adult @ KES 175 175 WC - 1 Adult @ KES 1355 1355 Total Trip Cost: KES 26065 That's fare for JNB return  possunt quia posse videntur
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Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi
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obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future?
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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Spikes wrote:Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. PJT is just a consultant looking for a prospective investor for KQ and they are being paid for the services. They are not pumping any money on their own into KQ. The shareholders has to approve any decision to be taken in the capital restructuring quest.
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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maka wrote:ArrestedDev wrote:VituVingiSana wrote:The negative capital position has seen the Nairobi Securities Exchange-listed firm rely on the goodwill of creditors to continue operating, with its auditors emphasising uncertainty as to its ability to carry on as a going concern. http://www.businessdaily...73030-wviam5/index.html
Ohhh! @VVS is not Kenyan
Ohhh! @VVS is *@#X&%!
Ohhh! @VVS hates KQ
Ohhh! @VVS bought Olympia and DeaconsSuch a meeting does not allow any other issue to be considered but KQ, as the airline is known by its international code, has lumped the matter with its other AGM agenda items for the September 29 meeting. The idea is to sweep the matter under the rug as one of the agenda items.The law requires such a meeting to be held not later than 56 days from the date directors of a public company become aware of the depleted asset position, with failure to do so amounting to an offence carrying a fine of Sh500,000 for each of the board members. The directors have known this for much longer than 56 days. The Negative Equity position is more than 1 year old. The directors should be jailed.
The mounting liabilities came as the airline made a record net loss of Sh26.2 billion in the review period, widening the Sh25.7 billion net loss the year before. KQ is like a carcass. The new company law cannot be applied retrospectively. KQ's depleted capital position occurred way before the law came into effect and hence the directors are not liable. This position was observed in the case of Uchumi where they wanted to rely on the new law to defend the winding suit that had been filed by some suppliers. Let me enjoy my buddy tickets before it goes down... Fare Details 1 Adult @ KES 16705 16705 [Fare(s) include Base Fare] Tax and Fees YQ - 1 Adult @ KES 0 0 YR - 1 Adult @ KES 0 0 TU - 1 Adult @ KES 5220 5220 EV - 1 Adult @ KES 145 145 ZA - 1 Adult @ KES 2465 2465 UM - 1 Adult @ KES 175 175 WC - 1 Adult @ KES 1355 1355 Total Trip Cost: KES 26065 That's fare for JNB return Enjoy yourself. The future of this ship is becoming very uncertain. Even if the government wrestle the control from KLM, it will still take ages to salvage it. Whoever said KLM was hell bent on collapsing this airline was right. http://www.standardmedia...q-board-demands-control
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Rank: Elder Joined: 6/23/2009 Posts: 13,711 Location: nairobi
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ArrestedDev wrote:Spikes wrote:Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. PJT is just a consultant looking for a prospective investor for KQ and they are being paid for the services. They are not pumping any money on their own into KQ. The shareholders has to approve any decision to be taken in the capital restructuring quest. I sincerely hope that the words just a consultant were used loosely.. McKinsey, Seabury, KPMG & PJT are all respectable firms currently engaged by KQ.. NEWS has started filtering out..
COOP 255,000 ABP 15.85; KQ 544,100 ABP 7.15; MTN 23,800 ABP 5.20
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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obiero wrote:ArrestedDev wrote:Spikes wrote:Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. PJT is just a consultant looking for a prospective investor for KQ and they are being paid for the services. They are not pumping any money on their own into KQ. The shareholders has to approve any decision to be taken in the capital restructuring quest. I sincerely hope that the words just a consultant were used loosely.. McKinsey, Seabury, KPMG & PJT are all respectable firms currently engaged by KQ.. NEWS has started filtering out.. These consultancies are just nailing the last nail in the coffin. A competent management does not need all these. It is an exercise in futility. KQ is already dead.
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Rank: Elder Joined: 6/23/2009 Posts: 13,711 Location: nairobi
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ArrestedDev wrote:obiero wrote:ArrestedDev wrote:Spikes wrote:Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. PJT is just a consultant looking for a prospective investor for KQ and they are being paid for the services. They are not pumping any money on their own into KQ. The shareholders has to approve any decision to be taken in the capital restructuring quest. I sincerely hope that the words just a consultant were used loosely.. McKinsey, Seabury, KPMG & PJT are all respectable firms currently engaged by KQ.. NEWS has started filtering out.. These consultancies are just nailing the last nail in the coffin. A competent management does not need all these. It is an exercise in futility. KQ is already dead. Interesting. 40 AGMs later and people still claim that KQ shall close shop.. This is what utopias thrive on, imaginary deaths.. Qatar has placed a mouth watering bid to buy out KLM and remedy the negative equity through acceptance on conversion of GOK debt to equity. Hold your horses for the AGM thereafter positive H1
COOP 255,000 ABP 15.85; KQ 544,100 ABP 7.15; MTN 23,800 ABP 5.20
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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obiero wrote:ArrestedDev wrote:obiero wrote:ArrestedDev wrote:Spikes wrote:Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. PJT is just a consultant looking for a prospective investor for KQ and they are being paid for the services. They are not pumping any money on their own into KQ. The shareholders has to approve any decision to be taken in the capital restructuring quest. I sincerely hope that the words just a consultant were used loosely.. McKinsey, Seabury, KPMG & PJT are all respectable firms currently engaged by KQ.. NEWS has started filtering out.. These consultancies are just nailing the last nail in the coffin. A competent management does not need all these. It is an exercise in futility. KQ is already dead. Interesting. 40 AGMs later and people still claim that KQ shall close shop.. This is what utopias thrive on, imaginary deaths.. Qatar has placed a mouth watering bid to buy out KLM and remedy the negative equity through acceptance on conversion of GOK debt to equity. Hold your horses for the AGM thereafter positive H1 No positive H1 results to be reported. As I have said here before, any gains at the operating level will be totally wiped out by the finance costs. It is not going to be easy to buy out KLM with the veto powers they have. All these news will translate to nothing. Miracles are required to pull KQ out of the current quagmire. It will take years to do so with a competent management who knows what aviation is all about.
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Rank: Elder Joined: 6/23/2009 Posts: 13,711 Location: nairobi
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ArrestedDev wrote:obiero wrote:ArrestedDev wrote:obiero wrote:ArrestedDev wrote:Spikes wrote:Impunity wrote:chiaroscuro wrote:obiero wrote:Spikes wrote:obiero wrote:chiaroscuro wrote:obiero wrote:VituVingiSana wrote:obiero wrote:The very first, final and unequivocal boarding call.. KQs journey to profitability is confirmed.. Thank me later Brother @Obiero, some of us have been thanking you since 2012. I have never called out investors directly.. I used to walk alone but now it's time to make cash with the brave.. There is NO way you can get an insolvent company out of debt using more debt! Absolutely none! The only way out is re-capitalisation. In this case Sh50bn is needed. Otherwise ni hadhi za Abu Nwasi! @chiaroscuro we have obtained KES 60B courtesy of PJT.. Wait for the news to break next month @arresteddev even by your own standards you have gone too low.. alleging that Ngunze will use KQ funds for Jubilee purposes is bizarre. Even if we were to imagine that theory, will Ogwapit and Awori allow the alleged scandal to transpire.. The turn around is finally here. Last boarding call was already sounded Is 60B loan facility or free money? Clarify ? How on earth would you imagine that it is more debt. Its capital restructuring Sasa "Capital Restructuring" ni nini? In layman's language: is PJT lending the money to KQ or buying shares in the company? Yaani: will KQ be expected to pay it back any time in the future? The money is loaned to the Government, while the government has given the money to Kq as a soft loan, payable ONLY when Kq CAN pay. Keywords > ONLY & CAN. Thank me. If KQ CAN NOT pay the government of the day will decide under controlling majority convert PJT loan to equity. Shareholders' dilution in the offing. Stay away for now. Moto wa kuotea mbali. PJT is just a consultant looking for a prospective investor for KQ and they are being paid for the services. They are not pumping any money on their own into KQ. The shareholders has to approve any decision to be taken in the capital restructuring quest. I sincerely hope that the words just a consultant were used loosely.. McKinsey, Seabury, KPMG & PJT are all respectable firms currently engaged by KQ.. NEWS has started filtering out.. These consultancies are just nailing the last nail in the coffin. A competent management does not need all these. It is an exercise in futility. KQ is already dead. Interesting. 40 AGMs later and people still claim that KQ shall close shop.. This is what utopias thrive on, imaginary deaths.. Qatar has placed a mouth watering bid to buy out KLM and remedy the negative equity through acceptance on conversion of GOK debt to equity. Hold your horses for the AGM thereafter positive H1 No positive H1 results to be reported. As I have said here before, any gains at the operating level will be totally wiped out by the finance costs. It is not going to be easy to buy out KLM with the veto powers they have. All these news will translate to nothing. Miracles are required to pull KQ out of the current quagmire. It will take years to do so with a competent management who knows what aviation is all about. A miracle is on the way..
COOP 255,000 ABP 15.85; KQ 544,100 ABP 7.15; MTN 23,800 ABP 5.20
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Rank: New-farer Joined: 4/11/2016 Posts: 30 Location: Nairobi
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No fundamental change in the company has occured but you must give it to them for the cost cutting initiatives. Any short term recovery will be based on cost cutting initiatives but beyond that I still see no hope.
The people factor is increasingly becoming a threat. The regulator may have to say something about the loss of key staff in the company especially engineers very soon. They may either have to import KLM engineers or outsource half of the department either way it will be more expensive.
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Rank: Elder Joined: 6/23/2009 Posts: 13,711 Location: nairobi
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nzalela wrote:No fundamental change in the company has occured but you must give it to them for the cost cutting initiatives. Any short term recovery will be based on cost cutting initiatives but beyond that I still see no hope.
The people factor is increasingly becoming a threat. The regulator may have to say something about the loss of key staff in the company especially engineers very soon. They may either have to import KLM engineers or outsource half of the department either way it will be more expensive. @maka @nzalela @arresteddev are all senior KQ staff, so I can't take their comments unquestionably
COOP 255,000 ABP 15.85; KQ 544,100 ABP 7.15; MTN 23,800 ABP 5.20
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Rank: New-farer Joined: 4/11/2016 Posts: 30 Location: Nairobi
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Meanwhile, middle east airlines have loved the KQ pilot talent and are coming for more..One KQ pilot made it to direct entry Emirates captain 777 from the narrow body which is a very rare occurence worldwide. Emirates only pick 6-10 guys a year for direct entry to wide body...success rate is getting higher by the day. If KQ doesnt act now, they will be faced with the engineer problem in the cockpit.
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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nzalela wrote:Meanwhile, middle east airlines have loved the KQ pilot talent and are coming for more..One KQ pilot made it to direct entry Emirates captain 777 from the narrow body which is a very rare occurence worldwide. Emirates only pick 6-10 guys a year for direct entry to wide body...success rate is getting higher by the day. If KQ doesnt act now, they will be faced with the engineer problem in the cockpit. The problem with these Middle East carriers is the brutal rosters. The deck crew are extremely fatigued. The situation is bad due to the shortage of pilots such that pilots are sleeping on the controls.People are moving there because they cannot see the future in KQ. The management lacks a vision for the Company. Read the stories regarding Emirates in the below link. https://donotflyemirates.wordpress.com/
The same topic have been covered extensively by RT following the FlyDubai accident which pilots had predicted that it will happen very soon due to pilots fatigue. One of the videos is as below.
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Rank: Elder Joined: 6/23/2009 Posts: 13,711 Location: nairobi
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ArrestedDev wrote:nzalela wrote:Meanwhile, middle east airlines have loved the KQ pilot talent and are coming for more..One KQ pilot made it to direct entry Emirates captain 777 from the narrow body which is a very rare occurence worldwide. Emirates only pick 6-10 guys a year for direct entry to wide body...success rate is getting higher by the day. If KQ doesnt act now, they will be faced with the engineer problem in the cockpit. The problem with these Middle East carriers is the brutal rosters. The deck crew are extremely fatigued. The situation is bad due to the shortage of pilots such that pilots are sleeping on the controls.People are moving there because they cannot see the future in KQ. The management lacks a vision for the Company. Read the stories regarding Emirates in the below link. https://donotflyemirates.wordpress.com/
The same topic have been covered extensively by RT following the FlyDubai accident which pilots had predicted that it will happen very soon due to pilots fatigue. One of the videos is as below. Soo sad what Emirates are claimed to do
COOP 255,000 ABP 15.85; KQ 544,100 ABP 7.15; MTN 23,800 ABP 5.20
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