Kenya Airways (KQ) State Buyout

[Gwizzy]

KQ shares suspended from Trading at the NSE pending imminent state buyout!!!

Current shareholding structure:

Suspension of trading at the NSE:



My two cents: Its a necessary evil. The commercial banks and minority shareholders will loose money in the transaction but then again, KQ is a strategic national asset that must be protected at all costs!!

 

[Mkikuyu- Akili timamu]

After years of singing praises to 'Privatisation' Finally KQ admits that the Ethiopian/ Tanzanian model of national airline ownership is best.

But unfortunately, bad timing during covid-19 period when GoK tax resources are very little, very few airline customers, a blockade on entering EU countries and only 3 paid for old airplanes. Kenya has just placed KQ debt to Taxpayers and very little assets while Tanzania Already has placed fully paid for assets (8 aircraft) into the hands of taxpayers!

 

[Gwizzy]

After years of singing praises to 'Privatisation' Finally KQ admits that the Ethiopian/ Tanzanian model of national airline ownership is best.
But unfortunately, bad timing during covid-19 period when GoK tax resources are very little, very few airline customers, a blockade on entering EU countries and only 3 paid for old airplanes. Kenya has just placed KQ debt to Taxpayers and very little assets while Tanzania Already has placed fully paid for assets (8 aircraft) into the hands of taxpayers!

Covid will not last forever and even if it does.....it should not be used as an excuse by anyone not to make strategically beneficial moves. 3 paid for airplanes?? punguza muchene!!! Both you and i know the fleet size, its publicly available information, it is(was) a listed company!! I agree on the nationalization it levels the playing field.

 

[Teargass]

After years of singing praises to 'Privatisation' Finally KQ admits that the Ethiopian/ Tanzanian model of national airline ownership is best.

But unfortunately, bad timing during covid-19 period when GoK tax resources are very little, very few airline customers, a blockade on entering EU countries and only 3 paid for old airplanes. Kenya has just placed KQ debt to Taxpayers and very little assets while Tanzania Already has placed fully paid for assets (8 aircraft) into the hands of taxpayers!

Please can you provide us with the financial statement of ATCL.

 

[mmh]

Majirani kutangulia sio kufika mdogomdogo tutaanza kuwapa msaada msikimbizie bakuli zenu kwa mabeberu

 

[Gwizzy]

Majirani kutangulia sio kufika mdogomdogo tutaanza kuwapa msaada msikimbizie bakuli zenu kwa mabeberu

Not sure how your comment relates to the thread 🙄 🙄 🙄 . Fafanua

 

[Mkikuyu- Akili timamu]

Covid will not last forever and even if it does.....it should not be used as an excuse by anyone not to make strategically beneficial moves. 3 paid for airplanes?? punguza muchene!!! Both you and i know the fleet size, its publicly available information, it is(was) a listed company!! I agree on the nationalization it levels the playing field.

1. Fleet size is not the same thing as ownership. KQ has carte Blanche on 3 Old planes while Tz has carte Blanche on 8 new planes

2. Covid will not last for ever, but every financial expert agrees..This is definitely the wrong time for any Government to invest in airline business. Especially for debt ridden Kenya that cannot afford clean water to its capital Nairobi for 3 months now

3.I have yet to see any GoK owned corporation run efficiently with no corruption, political interference & bogus management appointments plus other bullshit. Even Jubilee's Flagship Railway venture which you would imagine they would at least have it well managed is a total failure & recently declared as a corrupt illegal project

 

[Mkikuyu- Akili timamu]

Please can you provide us with the financial statement of ATCL.

Go read CAG reports, its all there am not hear to do homework for you

 

[Teargass]

Go read CAG reports, its all there am not hear to do homework for you

ATCL has never released any financial statements. You can prove me wrong if you wish.

 

[Gwizzy]

1. Fleet size is not the same thing as ownership. KQ has carte Blanche on 3 Old planes while Tz has 8

2. Covid will not last for ever, but every financial expert agrees..This is definitely the wrong time for any Government to invest in airline business. Especially for debt ridden Kenya that cannot afford clean water to its capital Nairobi for 3 months now

3.I have yet to see any GoK owned corporation run efficiently with no corruption, political interference & management appointments plus other bullshit. Even Jubilee's Flagship Railway venture which you would imagine they would at least have it well managed is a total failure & recently declared as a corrupt illegal project

We have been through this before .............. KQ owns 20 Aircraft leases 20 Aircraft, Total of 40. Please download the financial statements and read.....Punguza Muchene!!!

 

[Mkikuyu- Akili timamu]

ATCL has never released any financial statements. You can prove me wrong if you wish.

ATCL is a GoT owned coporation not a public listed company which are mandated by Law to publish its books. The only thing ATCL undergoes is Audit by CAG. Have you ever seen National Cereals and Produce board (NCPB) publish its books?..This is what your KQ will become..Another NYS

 

[Mkikuyu- Akili timamu]

We have been through this before .............. KQ owns 20 Aircraft leases 20 Aircraft, Total of 40. Please download the financial statements and read.....Punguza Muchene!!!

Bring their balance sheet. My friend you are out of your depth

 

[Gwizzy]

Bring their balance sheet. My friend you are out of your depth

I give up on you .... hapa sio Nursery!!! How will their balance sheet tell you the fleet size? That information can only be found in the notes and disclosures to the financial statements which you are too lazy to read. I will leave you to your ignorance!!!!

 

[Teargass]

ATCL is a GoT owned coporation not a public listed company which are mandated by Law to publish its books. The only thing ATCL undergoes is Audit by CAG. Have you ever seen National Cereals and Produce board (NCPB) publish its books?..This is what your KQ will become..Another NYS

KPA is owned by GOK and it publishes its books, same to KPLC and KAA. For NCPB it is a non-profit organization so don`t expect to see their books. SO tell us, is ATCL non-profit organization like NCBP?

 

[Mkikuyu- Akili timamu]

I give up on you .... hapa sio Nursery!!! How will their balance sheet tell you the fleet size? That information can only be found in the notes and disclosures to the financial statements which you are too lazy to read. I will leave you to your ignorance!!!!

Do you know what is a balance sheet? Are you familiar with IAS 1 accounting standard That deals with notes & disclosures to financial statements?
I though I was dealing with a knowledgeable person but definitely you are a below the threshold

 

[Gwizzy]

Do you know what is a balance sheet? Are you familiar with IAS 1 accounting standard That deals with notes & disclosures to financial statements?
I though I was dealing with a knowledgeable person but definitely you are a below the threshold

Boss baki na your 3 Aircraft!!!

FYI its no longer called a "balance sheet" its called "Statement of Financial Position"....Balance sheet was droped like 7 years ago. That alone tells me you dont know what you are talking about. Even that IAS 1 you are quoting and purporting to know so much about will not mention balance sheet anywhere. Don't be too stubborn, just read. Then again why should i care about your ignorance? 3 Aircraft it is 🙂🙂🙂!!!

 

[Ndekrepha]

Kwani kenya ni nchi ya kijamaa? Inakuwaje inaua private investors ndani ya KQ na kubinafsisha shirika? kenya inajiharibia sifa yake ya kuruhusu soko huria..😂😂😂

 

[Mkikuyu- Akili timamu]

KPA is owned by GOK and it publishes its books, same to KPLC and KAA. For NCPB it is a non-profit organization so don`t expect to see their books. SO tell us, is ATCL non-profit organization like NCBP?

listed company as per Cap486 laws of Kenya and has to publish its statements as per the law. I challange you to brings KPA or KAA accounts other than what we see from Auditor General Reports.
Your idle verbiage on Nonprofits (NGO'S) are defined in a separate act, NCBP IS NOT AN NGO. Its a corporation established by an act and so will Be KQ & corrupt NYS. Atcl is also established by an act of parliamnet but of course GoT is not the same as the corrupt GoK

 

[Teargass]

listed company as per Cap486 laws of Kenya and has to publish its statements as per the law. I challange you to brings KPA or KAA accounts other than what we see from Auditor General Reports.
Your idle verbiage on Nonprofits (NGO'S) are defined in a separate act, NCBP IS NOT AN NGO. Its a corporation established by an act and so will Be KQ & corrupt NYS. Atcl is also established by an act of parliamnet but of course GoT is not the same as the corrupt GoK

ATCL will never release their financial statement because of losses they are making and for KPA, here is their statement.
https://www.kpa.co.ke/Documents/KPA Annual Report and Financial Statement FY2017-2018.pdf
,

 

[Mkikuyu- Akili timamu]

ATCL will never release their financial statement because of losses they are making and for KPA, here is their statement.
https://www.kpa.co.ke/Documents/KPA Annual Report and Financial Statement FY2017-2018.pdf
,

That is the problem of trying to compare apples & oranges.
State Corporations Act Cap 446 of the Laws of Kenya requires state corporations to prepare (not publish) statement of accounts. KAA/ KPA etc are required to prepare financial statements but the auditor (the one who certifies statements) is the GoK itself through office of OAG. So in other words the audited certified statements come from the OAG not KAA/KPA. This is the same thing with ATCL.. Certified accounts come from their CAG office not ATCL. You can find them in the latest CAG reports.