Twitter kumewaka moto coz hes been appointed Chair of KQ. Lots of noise from citizens giving their opinion and they have never sat at a board room let alone a wedding committee. Reminds me a lot about this place.
Problem with Kenyans they usually do not give educated opinions. Most of those tweets have word cartel…cartel cartel. Watu wengi just dealing with info they heard over the weekend at a pub.
Tegea uskie @Jirani jinga akicomment
Hata ingepewa Richard Leakey
Complaining is a national obsession to a section of the country. We passed a new constitution by 2/3 votes saying its perfect and it allows dual citizenship and Michael Joseph was among the first to pick it up and he became a Kenyan Citizen. KQ small shareholders voted to have Joseph on the board to represent them. They then lobbied successfully government to back Joseph as Chairman to replace Awori and that is why i found the pilot threat of strike as misplaced. The changes at the board were already on the works and would come first then management. The Big elephant in the room is KLM/Air France next moves in this financial year. Major decision are coming up and it will be friction. KQ is technically insolvent and shareholders have to shore up the balance sheet. The financials performance has improved in the last year as they can pay for the short term operating expenses but still rely of expensive credit finance for its long term obligations. Mckinsey restructuring plan enters the major stages where staff will be entrenched, unprofitable routes cancelled, underutilised planes will either be sold or leased out. Lastly the shareholders have to come up with the capital themselves or risk further erosion of the shareholding % in the company. If i was in the board i would propose a caretaker management team to replace the current one to drive this unpopular turnaround strategy, save KQ and rebuild it up. No CEO will want to join KQ now knowing everyone will be on his case and dictating to him what he should do. Meanwhile KQ has hope as the current debtors and investment bankers who have provided the turnaround finance are willing to convert their loan to equity/shareholding and thus save KQ the expensive interest payments. They know their loan will be secured if KQ survives and remains a going concern. They are also willing to buy out KQ others debts from suppliers like Boeing and restructure them long term therefore ending the complexity of the ownership structure of the fleet that started the KQ downfall. Why would they do this, its obvious that major global airlines are positioning themselves to buy into KQ its will be lucrative for the shareholders.
And some from information gathered from funerals.
Joseph aamshe hii maiti tumpatie president 2022 on ODM ticket
Good move…Lets hope that politics will not “interfere” with his job and that those who looted KQ will be brought to book (will never happen) and the loot recovered (nice story) even as the Gok sets aside billions to “bail out” (you it will Mumias Sugar style) the Pride of Africa.
I hope he does a good job like this other guy pale Mumias, let me check how much progress he’s onto
The people know a few things,
- There is thieving and the thieves are running the company to the ground.
- They want change.
You don’t need to have sat on a board of a multinational to know that.
Wacha watu watoe maoni. If we spoke out more and acted like shit can change maybe something would change. Maybe one day we’ll grow balls to reject thieves instead of celebrating them.
There’s bunch of info youre leaving out which is putting everyone at the edge of their seats. Zile insider deals that seem to have bogged down the airline. Hapo ndio tunataka kujua kumeenda aje.
Next person atasema Naikuni arudishwe.
Form 4 leaver akisoma hiyo breakdown ya @spear hapo Juu atasema tuandike na kijerumani kwa sababu hiyo info yote na kizungu inampita tu.
You see MJ has public relations skills, couple it with a BOD who are competent and skilled, that’s why safcom is making billions till now. Now KQ is another story, no different from mumias na uchumi. Everybody of the mentality nitakulia wapi, you saw the expose on east african this week. And that is where this mzungu ataoneshwa maneno. That chairman desk si ya safaricom ya kusign cheques and taking pictures awarding winners prizes, it has interests that people will stop at nothing to achieve them, legally or illegally.
MJ having worked at Safaricom dealt with that front right and center. There’s a lot of politicking in big organizations and that’s where experience matters. Safaricom is not your local cattle dip if that’s what you’re trying to say with regards to his job description.
:eek::eek::D:D At I local cattle dip? Utamalisa kijana
I have nothing against MJ and I wish him well. But when the going gets tough and he’s unable to break the cartels, I would advice him to resign honourably the way the late economist Karithi Murimi did from NSSF board chairmanship 6 months after being appointed.
As for KQ turnaround, let’s wait for next Thursday so that we can analyze in detail the 2016/2017 half year performance of 5 billion loss.
The only turnaround to this institution is a massive bailout by the government. It depends on how deep the government wants to dig its claws.
MJ hataentertain upus. If he keeps getting frustrated by these cartels, he’ll just say “fuck it” and abandon ship. He has a reputation to protect.
IMHO, @spear posted a very knowledgeable analysis of the situation, but he cannot know everything.
Jishughulikie mara kwa mara instead of asking others to feed you.
Can’t read all that, but i will buy whatever you just said just to pass time!