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Kenya Airways...why ignore..
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Swenani
#15341 Posted : Monday, February 28, 2022 11:55:11 AM
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Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
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obiero
#15342 Posted : Saturday, March 05, 2022 5:11:03 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,302
Location: nairobi
Let me leave this here https://www.businessdail...financial-clouds-3736058
COOP, IMH, KEGN, KQ, MTNU
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My 2 cents
#15343 Posted : Saturday, March 05, 2022 11:19:28 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,091
[quote=obiero]Let me leave this here https://www.businessdail...inancial-clouds-3736058[/quote]

"When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact." (Warren Buffet)
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obiero
#15344 Posted : Sunday, March 06, 2022 10:43:32 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,302
Location: nairobi
My 2 cents wrote:
[quote=obiero]Let me leave this here https://www.businessdail...inancial-clouds-3736058[/quote]

"When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact." (Warren Buffet)

@Maka will tell you that a lot of good has happened at KQ in the last few years
COOP, IMH, KEGN, KQ, MTNU
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maka
#15345 Posted : Saturday, March 19, 2022 10:23:12 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
ArrestedDev wrote:
Zichi wrote:
Cargo ops in DRC will not be on the Embraer, but on the 737 freighter. And, the rights are between South Africa and DRC.
Embraers have been wet leased to boost Congo air Capacity. The two 5YFFL/FFM are the ones Sebastian brought in to replace the damaged ones.
This should help reduce monthly maintenance bill for idle planes.



It is possible for KQ to utilise the two planes instead of sending them to DRC. There are routes which need to be reactivated but the commercial and the overall management is totally not capable. We are in a post-Covid environment where things are picking up, the world is now starting to live with Covid. UK just removed Kenya from the red list. What are the implications? You need to build the connecting passengers by opening the routes in Africa in order for the routes to Europe to be viable.

There is either something wrong with the Management in terms of their capability skills to run an Airline or they are serving partisan interests. Look at what the other Airlines are doing right now and they are all in a cash strapped status but they are ramping up operations.

ET fleet are all being flown. Their aircraft utilisation rates is just mind boggling. They have reactivated 99.9% of their fleet except a few Q400. The management knows exactly what need to be done - utilise planes - build connecting traffic via Addis.



https://www.newsaero.inf...9-en-location?true=4971

😬😬😬
possunt quia posse videntur
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obiero
#15346 Posted : Tuesday, March 29, 2022 7:24:18 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,302
Location: nairobi
obiero wrote:
My 2 cents wrote:
[quote=obiero]Let me leave this here https://www.businessdail...inancial-clouds-3736058[/quote]

"When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact." (Warren Buffet)

@Maka will tell you that a lot of good has happened at KQ in the last few years

A turnaround like no other. Return to profitability is more or less guaranteed now
COOP, IMH, KEGN, KQ, MTNU
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  | | Edit by user: Tuesday, March 29, 2022 7:26 PM | Reason: Not specified
My 2 cents
#15347 Posted : Tuesday, March 29, 2022 10:46:43 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,091
Have these accounts provided for the staff costs that KQ will have to back pay. Remember staff are on reduced salaries and were promised that the cuts would not only be made good but backdated once profitability was restored.

Before covid KQ was spending Kes 16 Billion a year on staff costs.
So assume they have been paying 50% for two years; that means they have a potential liability of more than 16B over the 2 covid years.
It will be a long long long journey back to profitability.
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obiero
#15348 Posted : Wednesday, March 30, 2022 6:34:33 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,302
Location: nairobi
My 2 cents wrote:
Have these accounts provided for the staff costs that KQ will have to back pay. Remember staff are on reduced salaries and were promised that the cuts would not only be made good but backdated once profitability was restored.

Before covid KQ was spending Kes 16 Billion a year on staff costs.
So assume they have been paying 50% for two years; that means they have a potential liability of more than 16B over the 2 covid years.
It will be a long long long journey back to profitability.

Over half of the KQ staff have been exited, nothing like backdated salaries
COOP, IMH, KEGN, KQ, MTNU
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maka
#15349 Posted : Wednesday, March 30, 2022 8:22:07 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
obiero wrote:
My 2 cents wrote:
Have these accounts provided for the staff costs that KQ will have to back pay. Remember staff are on reduced salaries and were promised that the cuts would not only be made good but backdated once profitability was restored.

Before covid KQ was spending Kes 16 Billion a year on staff costs.
So assume they have been paying 50% for two years; that means they have a potential liability of more than 16B over the 2 covid years.
It will be a long long long journey back to profitability.

Over half of the KQ staff have been exited, nothing like backdated salaries



Around 1200 or so guys have left... Some opted for VEP others never got their contracts renewed. Those who took VEP were paid their deferred pay those who have remained are still owed deferred pay since 2019. It is a terrible situation. I know a few guys who exited end of Nov and negotiated a package, they haven't receive a cent till now we are in April. Also remember KQ owes waived taxes on the deferred pay. They don't have cash to pay that as well. Really effed up company. Allan keeps saying he is waiting for that 20BN from gava it won't be enough.

possunt quia posse videntur
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maka
#15350 Posted : Wednesday, March 30, 2022 8:34:45 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
maka wrote:
obiero wrote:
My 2 cents wrote:
Have these accounts provided for the staff costs that KQ will have to back pay. Remember staff are on reduced salaries and were promised that the cuts would not only be made good but backdated once profitability was restored.

Before covid KQ was spending Kes 16 Billion a year on staff costs.
So assume they have been paying 50% for two years; that means they have a potential liability of more than 16B over the 2 covid years.
It will be a long long long journey back to profitability.

Over half of the KQ staff have been exited, nothing like backdated salaries



Around 1200 or so guys have left... Some opted for VEP others never got their contracts renewed. Those who took VEP were paid their deferred pay those who have remained are still owed deferred pay since 2019. It is a terrible situation. I know a few guys who exited end of Nov and negotiated a package, they haven't receive a cent till now we are in April. Also remember KQ owes waived taxes on the deferred pay. They don't have cash to pay that as well. Really effed up company. Allan keeps saying he is waiting for that 20BN from gava it won't be enough.



Some math... if someone earning a Gross of around 250k was owed around 1.1m in deferred pay at the time of leaving KQ on Jan 31st 2021. How much will someone earning 750k be owed? Please note deferred pay continued accruing after the VEP guys left... Also take note that only 2 pilots took VEP. So the bulk who remained 400 or so and earn like 40% of the total employee costs are owed that cash now add the BLT (Business Leadership Team the senior guys like 30-40 of them) this is def running into Billions. It is a very sad situation. Next year the excuse will be high fuel costs etc etc. No hope here.
possunt quia posse videntur
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