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Kenya Airways...why ignore..

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sparkly		#14381 Posted : Tuesday, March 17, 2020 11:41:07 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		maka wrote: Proper leadership... Allan takes a 35% pay cut Everyone in Excomm 25% pay cut BOD won't be taking any allowance for any meeting.... Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Life is short. Live passionately.
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maka		#14382 Posted : Wednesday, March 18, 2020 12:26:15 AM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		sparkly wrote: maka wrote: Proper leadership... Allan takes a 35% pay cut Everyone in Excomm 25% pay cut BOD won't be taking any allowance for any meeting.... Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... possunt quia posse videntur
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VituVingiSana		#14383 Posted : Wednesday, March 18, 2020 12:50:51 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,055 Location: Nairobi		Impunity wrote: Tough indeed, but we can still average down. "We" ni nani? You sold out of everything. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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obiero		#14384 Posted : Thursday, March 19, 2020 5:26:02 AM
Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi		maka wrote: sparkly wrote: maka wrote: Proper leadership... Allan takes a 35% pay cut Everyone in Excomm 25% pay cut BOD won't be taking any allowance for any meeting.... Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... GoK will be there at all times for KQ HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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obiero		#14385 Posted : Thursday, March 19, 2020 7:32:13 AM
Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi		maka wrote: sparkly wrote: maka wrote: Proper leadership... Allan takes a 35% pay cut Everyone in Excomm 25% pay cut BOD won't be taking any allowance for any meeting.... Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... GoK will be there at all times for KQ HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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KaunganaDoDo		#14386 Posted : Thursday, March 19, 2020 7:53:30 AM
Rank: Member Joined: 8/6/2018 Posts: 292		maka wrote: sparkly wrote: maka wrote: Proper leadership... Allan takes a 35% pay cut Everyone in Excomm 25% pay cut BOD won't be taking any allowance for any meeting.... Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... What Happened to Plan to send Home People in Supply Chain Division?
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maka		#14387 Posted : Thursday, March 19, 2020 12:12:12 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		KaunganaDoDo wrote: maka wrote: sparkly wrote: maka wrote: Proper leadership... Allan takes a 35% pay cut Everyone in Excomm 25% pay cut BOD won't be taking any allowance for any meeting.... Compare this with those stupid people who were here before.... Where is the money to pay the reduced salaries? Govt bailout as usual...😊 Guys are being sent home.... What Happened to Plan to send Home People in Supply Chain Division? They were sent home...Some resigned...Supply chain has some totally new people.... possunt quia posse videntur
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sparkly		#14388 Posted : Thursday, March 19, 2020 4:32:40 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		US airlines asking for government bailout. Life is short. Live passionately.
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slick		#14389 Posted : Thursday, March 19, 2020 5:57:57 PM
Rank: Member Joined: 6/1/2017 Posts: 288		sparkly wrote: US airlines asking for government bailout. These airlines are such punks and shouldnt be bailed out considering how they use their cash.The 3 major airlines ie American Airlines,Delta Airlines and United Airlines have been using 96% of their Free Cash Flow (FCF) to buying back their own stock. This is how corporate America works.Company executives buy their own stock (for themselves not the company initially)when prices are cheaper.Then by borrowing in the corporate bond market or from revenues generated from company activities,they have their firms buyback their own stock.This massively pushes up the stock plus sucks in other investors to buy into rising stock prices.Then these executives,having bought these equities earlier now sell back their holdings into the market at much higher prices raking in a hefty profit for the executives not the company.Also by buying back their own stock,they reduce the overall float of stocks in the publicly traded market thus Earnings per Share increases since the denominator ie floated shares reduces creating a false impression that their EPS is high due to more effective business operations.70% of the US stock market rise in the last 11 years is due to this stock buyback scheme. Now that the corporate bond market is in distress,these companies that borrowed to buy back their own stock are in trouble as the stocks are tanking massively so cannot pay back bond holders from proceeds of sales of their appreciating stock.Covid-19 just exacerbated the problem especially for airlines and now they need a bailout so that executives buy back their own stock and repeat the same shenanigans??Even Billionaire Mark Cuban is lamenting that this is ridiculous and that companies that get bailed out do not buy back their own stock https://www.cnbc.com/202...-stocks-ever-again.html Contrarian Investor and Trader.Advocate of free markets,limited government interference in the economy and sound money
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kaki99		#14390 Posted : Thursday, March 19, 2020 8:56:36 PM
Rank: Hello Joined: 6/12/2018 Posts: 3		the national carrier of Rwanda announced it will temporarily halt all flights for the next 30 days in light of the coronavirus pandemic. RwandAir joins an ever-growing list of airlines who have taken the decision to temporarily halt operations.
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the deal		#14391 Posted : Thursday, March 19, 2020 9:17:15 PM
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery		@obiero are we getting out alive? 🙄🙄🙄
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lochaz-index		#14392 Posted : Friday, March 20, 2020 7:19:56 AM
Rank: Veteran Joined: 9/18/2014 Posts: 1,127		sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. The main purpose of the stock market is to make fools of as many people as possible.
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sparkly		#14393 Posted : Friday, March 20, 2020 10:48:33 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		slick wrote: sparkly wrote: US airlines asking for government bailout. These airlines are such punks and shouldnt be bailed out considering how they use their cash.The 3 major airlines ie American Airlines,Delta Airlines and United Airlines have been using 96% of their Free Cash Flow (FCF) to buying back their own stock. This is how corporate America works.Company executives buy their own stock (for themselves not the company initially)when prices are cheaper.Then by borrowing in the corporate bond market or from revenues generated from company activities,they have their firms buyback their own stock.This massively pushes up the stock plus sucks in other investors to buy into rising stock prices.Then these executives,having bought these equities earlier now sell back their holdings into the market at much higher prices raking in a hefty profit for the executives not the company.Also by buying back their own stock,they reduce the overall float of stocks in the publicly traded market thus Earnings per Share increases since the denominator ie floated shares reduces creating a false impression that their EPS is high due to more effective business operations.70% of the US stock market rise in the last 11 years is due to this stock buyback scheme. Now that the corporate bond market is in distress,these companies that borrowed to buy back their own stock are in trouble as the stocks are tanking massively so cannot pay back bond holders from proceeds of sales of their appreciating stock.Covid-19 just exacerbated the problem especially for airlines and now they need a bailout so that executives buy back their own stock and repeat the same shenanigans??Even Billionaire Mark Cuban is lamenting that this is ridiculous and that companies that get bailed out do not buy back their own stock https://www.cnbc.com/202...-stocks-ever-again.html A good explanation Life is short. Live passionately.
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maka		#14394 Posted : Friday, March 20, 2020 11:20:45 AM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		lochaz-index wrote: sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... possunt quia posse videntur
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maka		#14395 Posted : Friday, March 20, 2020 10:43:43 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		maka wrote: lochaz-index wrote: sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... possunt quia posse videntur
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sparkly		#14396 Posted : Friday, March 20, 2020 11:18:17 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		maka wrote: maka wrote: lochaz-index wrote: sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! Life is short. Live passionately.
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obiero		#14397 Posted : Saturday, March 21, 2020 3:58:06 AM
Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi		sparkly wrote: maka wrote: maka wrote: lochaz-index wrote: sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! Kenya is in trouble, not KQ HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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ArrestedDev		#14398 Posted : Saturday, March 21, 2020 3:58:27 AM
Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi		sparkly wrote: maka wrote: maka wrote: lochaz-index wrote: sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! . A CEO who thinks like this is not fit to drive this Company out of the bad management it has been through for so many years. What about employees who are living from hand to mouth, relying from paycheck to paycheck? Salary reduction should apply to senior executives only. What they need to do is to ask for a bailout from the government. This is the only way out. Reducing salaries of junior employees is a drop in the ocean. What about lease costs for planes that will be parked for months? Does Allan want to tell us the savings from the salaries is enough to service the lease costs and other loans. A serious executive will negotiate at first instance with banks on the loans they are servicing and aircraft lessors regarding ways to defer the monthly repayments. The letter above addressed to the employees does not mention of such a discussion, only a sentence talks about the government. By increasing his paycut by 5% to 80% is just laughable.
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obiero		#14399 Posted : Saturday, March 21, 2020 4:01:33 AM
Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi		the deal wrote: @obiero are we getting out alive? 🙄🙄🙄 We will be hit hard but massive GoK support is now guaranteed. Albeit maybe too late HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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obiero		#14400 Posted : Saturday, March 21, 2020 4:07:26 AM
Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi		ArrestedDev wrote: sparkly wrote: maka wrote: maka wrote: lochaz-index wrote: sparkly wrote: US airlines asking for government bailout. Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it. Things are extremely bad....Totally grounding of the entire fleet is imminent.... No comments! . A CEO who thinks like this is not fit to drive this Company out of the bad management it has been through for so many years. What about employees who are living from hand to mouth, relying from paycheck to paycheck? Salary reduction should apply to senior executives only. What they need to do is to ask for a bailout from the government. This is the only way out. Reducing salaries of junior employees is a drop in the ocean. What about lease costs for planes that will be parked for months? Does Allan want to tell us the savings from the salaries is enough to service the lease costs and other loans. A serious executive will negotiate at first instance with banks on the loans they are servicing and aircraft lessors regarding ways to defer the monthly repayments. The letter above addressed to the employees does not mention of such a discussion, only a sentence talks about the government. By increasing his paycut by 5% to 80% is just laughable. 80% pay cut isn't laughable.. The staff were always the problem at KQ HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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