After recording 26.2 billion net loss this year end March we can’t help but be concerned just what happened and if Kenya Airways will ever get back on its feet.
It is known that when Ndolo Ayah was minister for transport during former president Moi era, he signed up a Kenya Airways privatization deal with KLM which was found inappropriate after it was discovered that the agreement gave KLM directors on the Kenya Airways board veto powers over certain key decisions of the board.
Twenty years down, the agreement is part of the problems that are facing KQ as discovered by an investigation team led by Kisumu Senator Anyang’ Nyong’o.
CEO Mbuvi Ngunze has however denied the claims saying that it is not necessarily true KLM has the upper hand.He insists the decision making in his board room is fair and consultative.
However, KQ financial statements have proved otherwise over the two years.