Wazua
»
Investor
»
Stocks
»
Kenya Airways...why ignore..
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
|
ArrestedDev wrote:peep wrote:Before the state buyout, they should return our shares that were wiped out last year by over 70%.
After the buyout, the new owner should:
1. Sack everyone (especially the pilots) then recruit afresh at much lower rates. There's a glut of airline staff in the world now
2. Ban all new recruits from membership to unions
3. Cancel all the deals with the SPVs sitting in between KQ and Boeing. These leaches are draining the airline. I hear that they are not at the Boeing HQ, but here with us.
4. Review fuel contracts
Nothing will change. Staff are not to blame. The management is to blame. Even the new CEO is as clueless as one can imagine. He is holding brief for the cartels. They will now have the space to loot very well once it is a fully government entity. KQ is done and dusted. This thread should be closed. Waiting for Obiero to do the last rites Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: New-farer Joined: 5/24/2017 Posts: 44
|
peep wrote:Before the state buyout, they should return our shares that were wiped out last year by over 70%.
After the buyout, the new owner should:
1. Sack everyone (especially the pilots) then recruit afresh at much lower rates. There's a glut of airline staff in the world now
2. Ban all new recruits from membership to unions
3. Cancel all the deals with the SPVs sitting in between KQ and Boeing. These leaches are draining the airline. I hear that they are not at the Boeing HQ, but here with us.
4. Review fuel contracts
KQ's problems have never been about the staff. Even if you paid evergone 100 dollars it will still make a loss. According to their last report staff costs are less than 15% of their cost structure. Kenya is not Ethiopia, you cannot ban a worker from being unionised. The SPVs unfortunately can not be cancelled without great cost-maybe renegotiated. The new KQ will still need to lease and buy aircraft and thus cannot mess up its reputation internationally. Fuel contracts issues were sorted during the latter reign of Mbuvi
|
|
|
Rank: New-farer Joined: 5/24/2017 Posts: 44
|
@Maka, how many staff is the management looking ro let go?
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 14,326 Location: nairobi
|
Zichi wrote:peep wrote:Before the state buyout, they should return our shares that were wiped out last year by over 70%.
After the buyout, the new owner should:
1. Sack everyone (especially the pilots) then recruit afresh at much lower rates. There's a glut of airline staff in the world now
2. Ban all new recruits from membership to unions
3. Cancel all the deals with the SPVs sitting in between KQ and Boeing. These leaches are draining the airline. I hear that they are not at the Boeing HQ, but here with us.
4. Review fuel contracts
KQ's problems have never been about the staff. Even if you paid evergone 100 dollars it will still make a loss. According to their last report staff costs are less than 15% of their cost structure. Kenya is not Ethiopia, you cannot ban a worker from being unionised. The SPVs unfortunately can not be cancelled without great cost-maybe renegotiated. The new KQ will still need to lease and buy aircraft and thus cannot mess up its reputation internationally. Fuel contracts issues were sorted during the latter reign of Mbuvi Staff costs doesn't relate only to the payslip but on actions by the staff that lead to increased cost, here we refer to HOTAC, poor OTP and flagrant theft by servant on dubious hedging strategy, illogical bank pricing on facilities, ticketing schemes.. Senate did a report on this, led by Prof Nyongo. And don't get me wrong, there are good KQ staff, but they are not the majority. The corporate culture there is tilted towards self enrichment. KQ the company, should ideally be a profitable firm, very easily.. COOP, IMH, KEGN, KQ, MTNU
|
|
|
Rank: Member Joined: 1/22/2015 Posts: 682
|
I know people are very invested here, but let's be honest with ourselves: Kenya Airways deserves to close, and GoK needs to leave the airline business alone. Why a government needs a national airline carrier is just beyond me!
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 14,326 Location: nairobi
|
Mike Ock wrote:I know people are very invested here, but let's be honest with ourselves: Kenya Airways deserves to close, and GoK needs to leave the airline business alone. Why a government needs a national airline carrier is just beyond me! Watch this video to understand the why COOP, IMH, KEGN, KQ, MTNU
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
|
KLM exiting KQ even as a technical partner means KQ goes back to the drawing board on how to acquire landing slots in London Heathrow, Schipol airport in Amsterdam and Charles De Gaulle in Paris,France. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
|
Zichi wrote:@Maka, how many staff is the management looking ro let go? According to the star 182 pilots and over 400 cabin crew Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,382 Location: Nairobi
|
Ericsson wrote:KLM exiting KQ even as a technical partner means KQ goes back to the drawing board on how to acquire landing slots in London Heathrow, Schipol airport in Amsterdam and Charles De Gaulle in Paris,France. KQ sold its PRIME spots in LHR.    Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Member Joined: 1/22/2015 Posts: 682
|
obiero wrote:Mike Ock wrote:I know people are very invested here, but let's be honest with ourselves: Kenya Airways deserves to close, and GoK needs to leave the airline business alone. Why a government needs a national airline carrier is just beyond me! Watch this video to understand the why A private group of investors could still come through and make a Kenyan airline. And if a Kenyan airline proves unsustainable, we'll just use the international ones!
|
|
|
Wazua
»
Investor
»
Stocks
»
Kenya Airways...why ignore..
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|