For years Kenya Airways has been a symbol of National Pride the National Carrier and a Kenya’s flag in the air to various destinations . But after nearly 10 years of debt mismanagement and misfortune Kenya’s Parliament has made steps to Nationalise the Airline.
Announcing a 4.8 billion chilling net loss has posted a 7.5 loss in terms of billion shillings after recording a 12.9 billion shillings loss. The huge losses racked up year after year by the national carrier will soon be added to the taxpayers financial burdens . So what kind of company is the government acquiring on behalf of Kenyans .
Will it be an asset or a liability using Kenya airways financial reports ,
classified audit reports , leaked documents as well as interviews with current and former senior staff members and experts ,who have followed KQ’s rise and fall Africa sunset can now tell the story of our national airline . It’s a story of how in the space of one decade KQ went from being the pride to a problem so what lessons can we learn from its decline .
What if anything can be done to restore its position as a pride of Africa . Kenya Airways was established in the year 1977 after the disbandment of the East African Airways. It was jointly owned by Kenya , Tanzania and Uganda .Over the years the company accumulated massive financial problems and debts which occasioned its privatisation in 1996.
After the privatisation Kenya Airways fortunes turned as they started reporting a positive bottom line amid changes such as a Duala crash that hit the airline in 2007. In 2011 Kenya airways launched project mawingu , a 10-year strategy that was to position Nairobi as a hub for flights and Kenya airways as the airline of choice on the continent it was sold as an ambitious move to cement KQ’s dominance in africa.