simplemind
JF-Expert Member
- Apr 10, 2009
- 16,418
- 9,209
Kwani iko nini? Maajabu gani? The sun is 92 million miles away ,i can see it right here ,right now.
KQ sasa inapiga Route za daladala - wanasema hazina pesa za kukidhi mishahara na madeni
KQ sasa inapiga Route za daladala - wanasema hazina pesa za kukidhi mishahara na madeni
- Thread starter Mkikuyu- Akili timamu
- Start date
KENPAULITE
JF-Expert Member
- Apr 6, 2017
- 3,511
- 3,313
I brought you article ya 2012, even yourself you posted a video from twitter the mountain being visible, wacha denialism msee, elevation from amboseli to upperhill makes it possible for the mountain to be seen, its a high peak
yes i dispute that at any time! The distarnce from Nairobi to Mt Kilimanjaro is over 206 km away! Read comments below
I hear Kunyans can see Eiffel tower from Nairobi too!
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Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
206 km utakuwa mpumbavu kudai yu can see a thing at that distance tena at ur nacked eyes! Ukunya mlionao umepitiliza!
KENPAULITE
JF-Expert Member
- Apr 6, 2017
- 3,511
- 3,313
Check elevation difference, second thing the mountain is about 5km into the sky, with VFR conditions it can be seen with the naked eye, if we use your logic, you will find your the stupid one, Nairobi to Mt. Kenya is 218km and we can see it with our naked eye, denialism
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Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
leta video tuuone! see how u expose each other online!
Here is a reknown pilot exposing ur stupidity! He says with right lens! No naked eyes can see that Mt at that distanceunless u have eagle eyes that unfortunately can spot an object at a distance of 4.8 km!
Only with 500 mm lens from Nairobi NP!
#Akilizahandshake#
CC: Zigi Rizla Kafrican Depay Teargass Tony254 pingli-nywee komora096 Edward Wanjala kikihboy
MTK
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- Apr 19, 2012
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KITAULO
JF-Expert Member
- Apr 27, 2018
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😆 😆 😆 😆 mwana mbona unaipondea sana TZ kwani tumekukosea nini lakini??????????
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
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Sasa inaomba bailout
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
Taxpayers to bailout KQ as it sinks into a further $130m loss, and still grounded
TUESDAY JUNE 2 2020
Aircraft operated by Kenya Airways parked at Jomo Kenyatta International Airport in Kenya's capital Nairobi. PHOTO | FILE | NATION MEDIA GROUP
In Summary
By JAMES ANYANZWA
More by this Author
Kenyan taxpayers are set to feel the full weight of owning a bigger stake of the national carrier, as the airline reported a $130 million (Ksh13 billion) full-year loss at a time when it is seeking a government bailout to sail through the Covid-19 pandemic.
Kenya Airways last year underwent a series of capital and debt restructuring that elevated taxpayers to the biggest shareholders of the financially troubled carrier.
The Treasury last year extended a $50 million bailout to the airline, and is currently evaluating another $70 million funding request to help the carrier cope with revenue loss during the coronavirus pandemic, which has disrupted air travel across the globe.
“As you know we have been grounded for nearly three months now and during that time we have maintained all 38 aircrafts whether flying or not flying, we have to pay our leases, we have to pay the insurance costs, and we have a number of costs that don’t go away whether you are flying or not flying. In addition, we still have to pay salaries and so we have asked for money from the government and we are still waiting to hear about that,” said the Kenya Airways chairman Michael Joseph at a press briefing this week.
DE-LISTING FROM NSE
The airline has run short of cash to finance its operations including maintenance of aircrafts, payment of leases and employee salaries.
KQ is 48.9 per cent owned by the government and a group of 10 local banks that hold 38.1 per cent of its shares.
Other shareholders include KLM Royal Dutch Airline (7.8 per cent), employees (2.4 per cent) and other shareholders at 2.8 per cent.
But the airline is set to be delisted from the Nairobi Securities Exchange (NSE), after parliament last year approved its takeover by the State.
The carrier, which is grappling with a negative working capital of Ksh42.15 billion, saw its net loss for 2019 widen to Ksh12.97 billion ($129.7 million) from Ksh7.58 billion($75.8 million) in 2018.
Its management says it has halted route network expansion and embarked on a review of the existing ones with a view to further abandoning and reducing frequencies on what it considers to be non-profitable flights.
The latest are part of raft of the new measures that the troubled national carrier is considering to stay afloat in the wake of the Covid-19 pandemic that has grounded 90 per cent of its operations in the past three months.
LONG-TERM SURVIVAL
Other measures include diversification into the cargo business, digitisation of its operations and the consolidation of the aviation sector assets as the airline looks for long term survival techniques.
The management blamed the losses on fleet ownership costs, increased costs on new routes and frequencies and increased financing costs related to interest on loan repayments, foreign exchange movements and adoption of the new accounting standard — (IFRS16).
The devaluation of the airline’s assets also reduced the firm’s revenues by Ksh6.73 billion ($67.3 million).
Its total revenues increased by 12 percent to Ksh128.31 billion ($1.28 billion) from Ksh114.18 billion ($1.14 million) helped by cargo load and passengers fares on new routes — Geneva, Rome and Malindi — while operating costs increased by the same margin to Ksh129.17 billion ($1.29 million) from Ksh114.86 billion ($1.14 million).
Chief executive Allan Kilavuka said the future of the aviation industry remains uncertain in the wake of the Covid-19 pandemic that has seen governments put in place measures to control the spread of the virus including suspension of international flights to enforce social distancing regulations.
“We are not going to invest in any new route going forward of course. We are going to look at the routes that we have invested in and see whether we want to continue with that investment because any route has an investment,” Mr Kilavuka told an investor briefing in Nairobi last week.
“In some cases we will stop flying to some destinations, in other cases we will reduce frequencies and in other cases we will suspend operations. There are different things we are looking at so that we can respond to the market in the new context.”
The airline estimates that passenger demand in Kenya alone will drop by about 3.5 million this year, while global traffic is forecast to decline by 4.7 percent, causing the first overall decline in demand since the Global Financial crisis of 2008-2009, according to the International Air Transport Association (IATA).
The IATA also forecasts that the global aviation industry will lose $29 billion worth of passenger revenues this year, of which $40 million will be linked to African airlines.
THREE-YEAR RECOVERY
“The times ahead of us are very uncertain but like I said, if you look at the immediate future the year 2020 is obvious not going to be business as usual, the aviation sector will take time to recover,” said Kilavuka.
“There have been very many hypotheses, some are predicting a three-year recovery period, some are predicting a one-year recovery period but the general consensus is that there will be a drop in passenger numbers by at least 50 per cent. My own estimate is slightly more than that. In Kenya in particular we see that the demand for passenger travel we estimate that it is going to drop by about 3.5 million passengers.
So it means is that we need to adapt to this new context.”
KQ increased its losses for the year 2018 to Ksh7.5 billion ($75 million) from Ksh6.4 billion ($64 million) in 2017.
Its net loss for the six months’ period to June 30 2019 more than doubled to Ksh8.5 billion ($85 million) from Ksh4 billion ($40 million) in the same period the previous year (2018).
Taxpayers to bailout KQ as it sinks into loss
TUESDAY JUNE 2 2020
Aircraft operated by Kenya Airways parked at Jomo Kenyatta International Airport in Kenya's capital Nairobi. PHOTO | FILE | NATION MEDIA GROUP
In Summary
- Kenya Airways last year underwent a series of capital and debt restructuring that elevated taxpayers to the biggest shareholders of the financially troubled carrier.
- IATA also forecasts that global aviation industry will lose $29 billion worth of passenger revenues in 2020, of which $40 million will be linked to African airlines.
By JAMES ANYANZWA
More by this Author
Kenyan taxpayers are set to feel the full weight of owning a bigger stake of the national carrier, as the airline reported a $130 million (Ksh13 billion) full-year loss at a time when it is seeking a government bailout to sail through the Covid-19 pandemic.
Kenya Airways last year underwent a series of capital and debt restructuring that elevated taxpayers to the biggest shareholders of the financially troubled carrier.
The Treasury last year extended a $50 million bailout to the airline, and is currently evaluating another $70 million funding request to help the carrier cope with revenue loss during the coronavirus pandemic, which has disrupted air travel across the globe.
“As you know we have been grounded for nearly three months now and during that time we have maintained all 38 aircrafts whether flying or not flying, we have to pay our leases, we have to pay the insurance costs, and we have a number of costs that don’t go away whether you are flying or not flying. In addition, we still have to pay salaries and so we have asked for money from the government and we are still waiting to hear about that,” said the Kenya Airways chairman Michael Joseph at a press briefing this week.
DE-LISTING FROM NSE
The airline has run short of cash to finance its operations including maintenance of aircrafts, payment of leases and employee salaries.
KQ is 48.9 per cent owned by the government and a group of 10 local banks that hold 38.1 per cent of its shares.
Other shareholders include KLM Royal Dutch Airline (7.8 per cent), employees (2.4 per cent) and other shareholders at 2.8 per cent.
But the airline is set to be delisted from the Nairobi Securities Exchange (NSE), after parliament last year approved its takeover by the State.
The carrier, which is grappling with a negative working capital of Ksh42.15 billion, saw its net loss for 2019 widen to Ksh12.97 billion ($129.7 million) from Ksh7.58 billion($75.8 million) in 2018.
Its management says it has halted route network expansion and embarked on a review of the existing ones with a view to further abandoning and reducing frequencies on what it considers to be non-profitable flights.
The latest are part of raft of the new measures that the troubled national carrier is considering to stay afloat in the wake of the Covid-19 pandemic that has grounded 90 per cent of its operations in the past three months.
LONG-TERM SURVIVAL
Other measures include diversification into the cargo business, digitisation of its operations and the consolidation of the aviation sector assets as the airline looks for long term survival techniques.
The management blamed the losses on fleet ownership costs, increased costs on new routes and frequencies and increased financing costs related to interest on loan repayments, foreign exchange movements and adoption of the new accounting standard — (IFRS16).
The devaluation of the airline’s assets also reduced the firm’s revenues by Ksh6.73 billion ($67.3 million).
Its total revenues increased by 12 percent to Ksh128.31 billion ($1.28 billion) from Ksh114.18 billion ($1.14 million) helped by cargo load and passengers fares on new routes — Geneva, Rome and Malindi — while operating costs increased by the same margin to Ksh129.17 billion ($1.29 million) from Ksh114.86 billion ($1.14 million).
Chief executive Allan Kilavuka said the future of the aviation industry remains uncertain in the wake of the Covid-19 pandemic that has seen governments put in place measures to control the spread of the virus including suspension of international flights to enforce social distancing regulations.
“We are not going to invest in any new route going forward of course. We are going to look at the routes that we have invested in and see whether we want to continue with that investment because any route has an investment,” Mr Kilavuka told an investor briefing in Nairobi last week.
“In some cases we will stop flying to some destinations, in other cases we will reduce frequencies and in other cases we will suspend operations. There are different things we are looking at so that we can respond to the market in the new context.”
The airline estimates that passenger demand in Kenya alone will drop by about 3.5 million this year, while global traffic is forecast to decline by 4.7 percent, causing the first overall decline in demand since the Global Financial crisis of 2008-2009, according to the International Air Transport Association (IATA).
The IATA also forecasts that the global aviation industry will lose $29 billion worth of passenger revenues this year, of which $40 million will be linked to African airlines.
THREE-YEAR RECOVERY
“The times ahead of us are very uncertain but like I said, if you look at the immediate future the year 2020 is obvious not going to be business as usual, the aviation sector will take time to recover,” said Kilavuka.
“There have been very many hypotheses, some are predicting a three-year recovery period, some are predicting a one-year recovery period but the general consensus is that there will be a drop in passenger numbers by at least 50 per cent. My own estimate is slightly more than that. In Kenya in particular we see that the demand for passenger travel we estimate that it is going to drop by about 3.5 million passengers.
So it means is that we need to adapt to this new context.”
KQ increased its losses for the year 2018 to Ksh7.5 billion ($75 million) from Ksh6.4 billion ($64 million) in 2017.
Its net loss for the six months’ period to June 30 2019 more than doubled to Ksh8.5 billion ($85 million) from Ksh4 billion ($40 million) in the same period the previous year (2018).
Taxpayers to bailout KQ as it sinks into loss
Trubarg
JF-Expert Member
- Jan 8, 2020
- 4,388
- 7,223
Acha ujinga
Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 65,136
- 91,917
Trubarg
JF-Expert Member
- Jan 8, 2020
- 4,388
- 7,223
Kenya imeashindikana...
KENPAULITE
JF-Expert Member
- Apr 6, 2017
- 3,511
- 3,313
Onyesha uerevu wako basi