Kenya Airways 2014/15 record financial results

[mkenya]

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.

[gear up job]

They will come through. Not tomorrow or next month but they will. What i found ironical was comments from one of the major shareholder to delist K.A from the stock exchange and kick KLM out of the shareholding!

Clearly there are some individuals who wana completely wipe out the carrier! Perhaps they want to start their own airline!

[maverick3]

Gear Up Job....i concur with your foresight.... bearing in mind, the west african market will be back on the revenue equation, now that the ebola outbreak is almost contained.

There will also be an upsurge in tourism, following a reduction in terrorism threat classification.

kenya's week shilling at the moment, also plays to the country's advantage, since, tourists look for a cheap vacation destination

and the biggest chunk, which in my opinion will tip the scale is, the completion of jomo remodeling and granting of direct flights to the states. this will convert jomo to be a 'semi hub' much akin to a smaller doha.

a million or a billion dollar loss, is all numbers and figures, if you can rake it all back.

safe landings, ladies and gentlemen

[254HEAVY]

To add to all that, they mainly trade in USD and right now it's stronger than the shilling so it MAY potentially aid them to a smooth recovery.

Also BA last flight to Entebbe is on October 2, 2015. Well if the carrier doesn't make some serious quid out of the route then perhaps they just wana fail deliberately!

[double_barrel]

I travel almost constantly in and out of NBO, I tried to support KQ as much as I could, but finally gave up. I now refuse to travel KQ if there is any choice. When I book KLM, I double check that the flight is operated by KLM rather than KQ.

Sorry, but flying KQ has become miserable, grim experience. The contrast with KLM is night and day. KQ staff are surly, ill trained and unhelpful. The food is diabolical. The quality of aircraft maintenance I see inside the cabin is very worrying, I hope it does not apply to more fundamental aspects of the aircraft.

This picture I took a while ago in their Simba lounge may be illustrative of their attention to detail!

http://i216.photobucket.com/albums/cc14/trangle99/kq_zpsraswlibe.jpg