That borrowings figure is a thorn in the flesh for KQ.
Operating profit ni kiswahili to cheat investors on the impact of the borrowings.
The day when KQ will be borrowing less and repaying more is when turnaround will have began.As at now it's borrowing more than what it's repaying.
Equity position is still growing on the negative direction.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle