Browsing: Multibillion Losses

Kenya Airways (KQ) flagged-off its inaugural flight from the Jomo Kenyatta International Airport (JKIA) to New York City on October 28, 2018.
As the first-ever non-stop flight from Nairobi, it is a breakthrough for Kenya following years of negotiations.
Several months later, the hype on the route seems to have died with Kenya Airways not publicising it as much as it did the launch.
The habitual loss-making airline reported a KShs7.6 billion loss in 2018, an increase from the KShs6.4 billion in FY17. The airline attributed the losses to a “surge in operating costs”.
Despite the lacklustre performance of the airline, senior executives continue receiving huge salaries.

Senior KQ executives’ salaries

Kenya Airways is one of the 12 Nairobi Securities Exchange-listed companies burdened by compensating their executives.
The companies are collapsing under this liability which shareholders do not appreciate.
This is against the backdrop of lack of