Kenya Airways 2014/15 record financial results
Kq yesterday released their full financial results for the year ending June 2015 and reported a record breaking 26 Billion Kenya shillings loss, that is almost 260 million US dollars at the present exchange rate.
Their current liabilities now exceed their current assets by 5.9 billion shillings, close to 60 million dollars US.
Management reports that they have secured a short term loan of 200 million dollars.
It will be interesting to watch how this turns out.
It appears the immediate former CEO Mr. Titus Naikuni left a shell from what was once Africa's pride. Though the current top management has been in there for quite a while.
Interesting times ahead.