Monday, April 13, 2015

THE ‘PRIDE OF AFRICA’ IS FAST LOSING GROUND by Aly-Khan Satchu

Is KQ on its last wings?

http://www.rich.co.ke/media/docs/038NSX1304.pdf by @AlyKhanSatchu

My blogposts

http://coldtusker.blogspot.com/2012/04/kenya-airways-rip-off.html

http://coldtusker.blogspot.com/2012/04/kq-rights-issue-2012.html

http://coldtusker.blogspot.com/2012/04/kenya-airways-commissions-payment-scam.html

http://coldtusker.blogspot.com/2012/04/govt-of-kenya-to-pay-commission-for-kq.html

http://coldtusker.blogspot.com/2015/01/kq-losses-losses-and-more-losses.html


Ngunze was handed a lemon by Naikuni. Interesting to note that Naikuni 'resigned' one month before the AGM and announcement of the largest loss ever by a company in Kenya.

Now waiting for an answer/comment from @ay1m - which I will post on here!

14 comments:

Anonymous said...

Hello CT,
As I told you on twitter, the points in the article by AlyKhan could be disputed and I will pick a few that I believe can be ably disputed.

1. Airline Stocks worldwide have Soared.He said this without giving any numbers to support the claim but a little digging shows that the global performance (I use American numbers as they are the most easily available.) is not as rosy as he claims. We all know Airline stocks are never a good idea, as its a thin margin industry with a lot of variables than can skew profitability.

For example Global players American Airlines Group AAL -0.23%, United Continental Holdings UAL -0.18% and Delta Air Lines DAL +0.21% are all down at least 7.5% year-to-date despite the tailwind from falling oil prices.

*Source of data. http://www.marketwatch.com/story/airline-stocks-slump-after-deutsche-bank-cuts-ratings-target-on-sector-heavyweights-2015-04-01

2. His reasons for KQ shares slumping is because investors are dumping the stock at any price. If I read him right he was stating that Oil prices have fallen, but have had no marked impact on the share price of kenya airways. Well, KQ recorded a huge loss the past financial year. The effect of this is the share price was bound to drop drastically. Unfortunately for kenya airways, they seem to lack a "return to profitability" program.

Kenya Airways has shed 30 per cent over the past two months reverting to a Sh7.75 low on a series of negative corporate reports, erasing price gains made between November last year and February 2015.

Source : http://www.businessdailyafrica.com/KQ-stock-dips-30-per-cent-as-airline-flies-into-turbulent-times/-/539552/2679662/-/s1dp6x/-/index.html

Also Since mid-2014, the correlation between the major airline stocks and the U.S. crude oil benchmark has weakened. Even more significantly, the energy sector and the airline group have decoupled after formerly tracking each other relatively closely, as shown in the table below, via financial data startup Kensho.

Source : http://www.forbes.com/sites/steveschaefer/2015/04/06/airline-stocks-oil-prices-american-united-delta/

Anonymous said...

I hope that clarifies it all. @ay1m

M said...

Given Mbuvi Ngunze was COO for 4 years he cannot claim to have been handed a lemon. He was part of the making of the lemon

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