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Kenya Airways...why ignore..
Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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maka wrote:VituVingiSana wrote:Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KLM wasn't the problem. The crooks running KQ were the problem. Naikuni, Mbugua and their crooked friends. Brian Presbury turned around KQ. Naikuni and his cronies destroyed it financially. Ngunze was handed a poisoned chalice. Sebastian and Joseph are now running the show. I wonder if minority shareholders should agree to Kenyans running KQ again after Joseph and Mikosz revive it. True...100% KLM saved KQ.. They gave almost as much as Ngunze gave to KQ. These two should not be abused.. I was quite happy to see Ngunze at yesterday's brief. He is still on KQs payroll. Shadow CEO??
KQ ABP 4.26
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. @Ebenyo some things you say with evidence/justifcation Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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obiero wrote:Ericsson wrote:Share price down 9.91% today Really?? I see a different figure.. Some recovery has happened narrowing the loss Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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Ericsson wrote:obiero wrote:Ericsson wrote:Share price down 9.91% today Really?? I see a different figure.. Some recovery has happened narrowing the loss Some would wish that KQ prints KES 2 as per @spikes dreamy prophesy, but KES 8.5 is more likely.. We await the Open Offer price anxiously
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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Mbuvi confirms to me, at the Pride Centre this Friday 8.45am just before market opening, we shall be served with the work of his hands being HY 2017/2018 
KQ ABP 4.26
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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obiero wrote:maka wrote:VituVingiSana wrote:Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KLM wasn't the problem. The crooks running KQ were the problem. Naikuni, Mbugua and their crooked friends. Brian Presbury turned around KQ. Naikuni and his cronies destroyed it financially. Ngunze was handed a poisoned chalice. Sebastian and Joseph are now running the show. I wonder if minority shareholders should agree to Kenyans running KQ again after Joseph and Mikosz revive it. True...100% KLM saved KQ.. They gave almost as much as Ngunze gave to KQ. These two should not be abused.. I was quite happy to see Ngunze at yesterday's brief. He is still on KQs payroll. Shadow CEO?? With the veto powers KLM had and the expertise spanning hundreds of years in aviation management, they could have easily pointed out the management mistakes made by the executives in KQ. It is very clear that they benefitted and still continue to benefit from the downfall of KQ. Their shareholding in KQ ensures they have a market for aircrafts decommissioned from their fleet, sale of spare parts to KQ at inflated prices and so on. Anyone supporting KLM does not understand the issues at hand.
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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obiero wrote:Mbuvi confirms to me, at the Pride Centre this Friday 8.45am just before market opening, we shall be served with the work of his hands being HY 2017/2018 Take Ngunze out of KQ.
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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ArrestedDev wrote:obiero wrote:maka wrote:VituVingiSana wrote:Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KLM wasn't the problem. The crooks running KQ were the problem. Naikuni, Mbugua and their crooked friends. Brian Presbury turned around KQ. Naikuni and his cronies destroyed it financially. Ngunze was handed a poisoned chalice. Sebastian and Joseph are now running the show. I wonder if minority shareholders should agree to Kenyans running KQ again after Joseph and Mikosz revive it. True...100% KLM saved KQ.. They gave almost as much as Ngunze gave to KQ. These two should not be abused.. I was quite happy to see Ngunze at yesterday's brief. He is still on KQs payroll. Shadow CEO?? With the veto powers KLM had and the expertise spanning hundreds of years in aviation management, they could have easily pointed out the management mistakes made by the executives in KQ. It is very clear that they benefitted and still continue to benefit from the downfall of KQ. Their shareholding in KQ ensures they have a market for aircrafts decommissioned from their fleet, sale of spare parts to KQ at inflated prices and so on. Anyone supporting KLM does not understand the issues at hand. Well at least those who don't know what the KLM positive impact on KQ means, does not include Michael Joseph https://citizentv.co.ke/...-of-jv-with-klm-147958/
Watch this speech by Chairman KQ from minute 11 to understand why KQ needs KLM and not the other way round
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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obiero wrote:Mbuvi confirms to me, at the Pride Centre this Friday 8.45am just before market opening, we shall be served with the work of his hands being HY 2017/2018 Another loss? How many years has it been KQ even showed a profit? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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ArrestedDev wrote:obiero wrote:maka wrote:VituVingiSana wrote:Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KLM wasn't the problem. The crooks running KQ were the problem. Naikuni, Mbugua and their crooked friends. Brian Presbury turned around KQ. Naikuni and his cronies destroyed it financially. Ngunze was handed a poisoned chalice. Sebastian and Joseph are now running the show. I wonder if minority shareholders should agree to Kenyans running KQ again after Joseph and Mikosz revive it. True...100% KLM saved KQ.. They gave almost as much as Ngunze gave to KQ. These two should not be abused.. I was quite happy to see Ngunze at yesterday's brief. He is still on KQs payroll. Shadow CEO?? With the veto powers KLM had and the expertise spanning hundreds of years in aviation management, they could have easily pointed out the management mistakes made by the executives in KQ. An outright lie.
It is very clear that they benefitted and still continue to benefit from the downfall of KQ. Their shareholding in KQ ensures they have a market for aircrafts decommissioned from their fleet, sale of spare parts to KQ at inflated prices and so on. KQ's downfall started when Naikuni and his merry band of crooks entered into contracts for NEW planes and fuel hedges so what decommissioned planes are you talking about? The board (mostly Kenyan) with strong representation by GoK could have scrutinized all deals. The 2 most powerful guys in management were both Kenyans and not Dutch.
Anyone supporting KLM does not understand the issues at hand. Stop blaming KLM for corruption, incompetencies and impunity inflicted on Kenyans by Kenyans. Those hedges are suspect. Back in 2011-12, after I attended a roadshow by KQ and then read Project Mawingu's (Rights) IM, it seemed too ambitious. That's when I decided to bail and take a loss on KQ. I was burnt by Olympia, also run by a crook, and this looked very similar albeit much larger in scale. The Olympia CEO blamed everything and everyone but himself for a botched deal but my gut feeling is he did very well for himself. Warren Buffett says if you do not trust the management [& can't change it] do not invest in the firm. Even after the debacle post-Rights for KQ, it took 5 years to (fully) change the management. Even if you can change the management, you do not know the real rot inside. Even after Naikuni left, there was his co-pilot Mbugua. Then add all those in various positions who thrived under Naikuni and Mbugua. It took Joseph and Mikosz (hired by MJ) as complete outsiders to clean the Aegean Stables! Anyway, that's all history... Learn from it. Good luck with KQ. I hope it becomes investable sooner than later but I am sitting this out in favor of many other firms on the NSE. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Kenya Airways...why ignore..
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