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Kenya Airways...why ignore..
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jawz1
#2101 Posted : Thursday, July 30, 2015 3:22:54 PM
Rank: Member


Joined: 8/4/2008
Posts: 205
Location: Nairobi
In debt to the tune of 130 billion! This is the stuff of management career enders in a civilized country. Wish seppuku or harakiri was practiced here....
"When the pupil is ready to learn, a teacher will appear." -- Zen proverb
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Aguytrying
#2102 Posted : Thursday, July 30, 2015 3:28:25 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
@Obiero. I'm glad you accept what is going on. It takes real character to accept mistakes. KQ has done in many people in wazua and elsewhere including me.
The problem with KQ is only one. Management.
And I don't see that changing anytime soon. Even if they improve in the next few years, in the future u can be sure it will happen again. As it did before. It's the same thing that plagues Mumias,Uchumi etc.

The investor's chief problem - and even his worst enemy - is likely to be himself
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maka
#2103 Posted : Thursday, July 30, 2015 3:32:48 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
"This is bullshit", KQ shareholder Chris Kirubi said during a Thursday investor briefing on a financial report that revealed a Sh29.7 billion pre-tax loss.

His reaction came after Kenya Airways CEO Mbuvi Ngunze revealed the largest loss by any firm listed on the Nairobi Securities Exchange.

At the charged meeting, Kirubi recommended drastic measures to turn the airline's fortunes around.

“Kenya Airways should be taken off the market, leave it for private investors… We need to buy out KLM, get them out and try to have an East Africa common market strategy,” he said.

Kirubi, who said he will keep his shares with the firm despite the financial woes, warned that losses could double next year if bold steps are not taken.

"This business is totally under-capitalised. You cannot run a business of this size on loans," he said adding that KQ needs investors with a long-term outlook.

- See more at: http://www.the-star.co.k...oss#sthash.uasLMQ9i.dpuf
possunt quia posse videntur
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Aguytrying
#2104 Posted : Thursday, July 30, 2015 3:32:50 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
timuka wrote:
kollabo wrote:
growing wrote:
total equity (5.963)B Sad Sad Sad


Ati what? Is this a going concern anymore?

What did auditors say?


I don't think it is. There is also a question of whether the financial statements should be prepared on a going concern basis. Where are accounting experts of Wazua?


I'm no accountant. But I think this means that the net assets are negative -5.93B. Coz shareholders funds = net asset value.
I'm I right consultants?
The investor's chief problem - and even his worst enemy - is likely to be himself
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Magnate
#2105 Posted : Thursday, July 30, 2015 3:33:43 PM
Rank: Member


Joined: 11/1/2013
Posts: 257
Lolest! wrote:
watesh wrote:
Umoinner making more money than Kenya Airways

Laughing out loudly Laughing out loudly but it's Sad Sad

Laughing out loudly Laughing out loudly Laughing out loudly
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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mlennyma
#2106 Posted : Thursday, July 30, 2015 3:34:26 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,175
Location: nairobi
Aguytrying wrote:
@Obiero. I'm glad you accept what is going on. It takes real character to accept mistakes. KQ has done in many people in wazua and elsewhere including me.
The problem with KQ is only one. Management.
And I don't see that changing anytime soon. Even if they improve in the next few years, in the future u can be sure it will happen again. As it did before. It's the same thing that plagues Mumias,Uchumi etc.


the main culprits could be smiling very far and counting how much wealth they made in KQ
"Don't let the fear of losing be greater than the excitement of winning."
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Magnate
#2107 Posted : Thursday, July 30, 2015 3:57:56 PM
Rank: Member


Joined: 11/1/2013
Posts: 257
Kenya Airways made the biggest net loss in the country’s corporate history ending down Sh25.7 billion in the year ended March

This is not right at all,some people should be prosecuted here.others should be barred from ever sitting on any NSE listed firm board or management,for the interest of NSE investors like you and i.
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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enyands
#2108 Posted : Thursday, July 30, 2015 4:13:06 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
This is worse than mumias .more to come if no measures are taken to control this
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VituVingiSana
#2109 Posted : Thursday, July 30, 2015 4:32:44 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,060
Location: Nairobi
Aguytrying wrote:
timuka wrote:
kollabo wrote:
growing wrote:
total equity (5.963)B Sad Sad Sad


Ati what? Is this a going concern anymore?

What did auditors say?


I don't think it is. There is also a question of whether the financial statements should be prepared on a going concern basis. Where are accounting experts of Wazua?


I'm no accountant. But I think this means that the net assets are negative -5.93B. Coz shareholders funds = net asset value.
I'm I right consultants?
Yes.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#2110 Posted : Thursday, July 30, 2015 4:33:33 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
What %number of shares does DJCK own?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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lochaz-index
#2111 Posted : Thursday, July 30, 2015 4:53:35 PM
Rank: Veteran


Joined: 9/18/2014
Posts: 1,127
VituVingiSana wrote:
Aguytrying wrote:
timuka wrote:
kollabo wrote:
growing wrote:
total equity (5.963)B Sad Sad Sad


Ati what? Is this a going concern anymore?

What did auditors say?


I don't think it is. There is also a question of whether the financial statements should be prepared on a going concern basis. Where are accounting experts of Wazua?


I'm no accountant. But I think this means that the net assets are negative -5.93B. Coz shareholders funds = net asset value.
I'm I right consultants?
Yes.


It means that if the company was to be wound up today @obiero would make a 100% loss on his kq holdings and still owe the creditors about 4bob per share. Tough luck.
The main purpose of the stock market is to make fools of as many people as possible.
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Aguytrying
#2112 Posted : Thursday, July 30, 2015 6:42:28 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
So to think about it in another hypothetical way is that KQ shares are worth negative -4 shillings. Of course no one will ask u to pay the 4 shillings coz its a limited.

It also means until that time KQ accumulates shareholders funds worth 6 billion. If the firm is dissolved shareholders will get nothing. How long do you Wazuans think it will take KQ to accumulate 6B considering even making a profit over the last few years is hard. If someday it recovers the long termers will reap. But it's too risky a play
The investor's chief problem - and even his worst enemy - is likely to be himself
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Impunity
#2113 Posted : Thursday, July 30, 2015 6:44:02 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,325
Location: Masada
lochaz-index wrote:
VituVingiSana wrote:
Aguytrying wrote:
timuka wrote:
kollabo wrote:
growing wrote:
total equity (5.963)B Sad Sad Sad


Ati what? Is this a going concern anymore?

What did auditors say?


I don't think it is. There is also a question of whether the financial statements should be prepared on a going concern basis. Where are accounting experts of Wazua?


I'm no accountant. But I think this means that the net assets are negative -5.93B. Coz shareholders funds = net asset value.
I'm I right consultants?
Yes.


It means that if the company was to be wound up today @obiero would make a 100% loss on his kq holdings and still owe the creditors about 4bob per share. Tough luck.


Pray Pray Pray
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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VituVingiSana
#2114 Posted : Thursday, July 30, 2015 6:57:54 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,060
Location: Nairobi
I expected 9-11bn loss. A 30bn loss was not in my realm of possibility.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#2115 Posted : Thursday, July 30, 2015 7:38:26 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Speechless...

And to think Titus minted Tens of Millions from this monkey!

@obiero keep the chin up... I hope you have now learnt how airlines do their thing..

We are now at bankruptcy bailout phase which is kawaida with all airlines in non oil rich countries..
Mark 12:29
Deuteronomy 4:16
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Gatheuzi
#2116 Posted : Thursday, July 30, 2015 7:58:43 PM
Rank: Veteran


Joined: 8/16/2009
Posts: 994
Magnate wrote:
Kenya Airways made the biggest net loss in the country’s corporate history ending down Sh25.7 billion in the year ended March

This is not right at all,some people should be prosecuted here.others should be barred from ever sitting on any NSE listed firm board or management,for the interest of NSE investors like you and i.


Too bad in Kenya we don't prosecute anyone. We will perhaps reward them with a governor's post. However my take is that these guys better be careful what they do. Stealing from public coffers is not the same as freezing a company. While in a public entity the loss is shared among the entire population which absorbs the degree of anger,this is different if a guy I hired swindles me in broad day light. He may bribe the judge but some private shareholder who looses their life savings may be pushed to the limit and decide to act. If a head or some balls goes missing msiulize. Chungeni sana kina....
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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GGK
#2117 Posted : Thursday, July 30, 2015 8:24:20 PM
Rank: Member


Joined: 11/21/2006
Posts: 608
Location: Ruiru
Here lies the answer why KQ is facing turbulent airs.........
In June 7 2012, GoK surpassed KLM as the biggest shareholder in KQ after its stake in the national carrier rose to 30% following conclusion of the rights issue. It has been downhill since then
Below are the full-year net earnings for KQ in the last 5 years.
2011-3.53bn profit
2012-1.66bn profit
2013-7.86bn loss
2014-3.38bn loss
2015-25.7bn loss
"..I am because we are. "― Ubuntu, Umtu,
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Afroblk
#2118 Posted : Friday, July 31, 2015 12:08:12 AM
Rank: New-farer


Joined: 3/3/2010
Posts: 79
What happens when a company is placed under receivership like what happened to Uchumi? Will your shares be intact when it comes back trading 2 years later?
Knowledge is contagious...Infect truth!
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snipermnoma
#2119 Posted : Friday, July 31, 2015 2:29:50 AM
Rank: Member


Joined: 1/3/2014
Posts: 257
A loss was on the cards but surely not this huge! For those holding KQ this must be so brutally painful.
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Impunity
#2120 Posted : Friday, July 31, 2015 3:54:38 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,325
Location: Masada
snipermnoma wrote:
A loss was on the cards but surely not this huge! For those holding KQ this must be so brutally painful.


May be this is some kind of "book value" loss, its not actual cheda lost..25B is too much to be a loss for the company of that size.
Wacha tungoje arm chair analyst waendelee kuanlayze numbers. Numbers though may lie.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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