Latest news with #KQ
Zawya
13-05-2025
- Zawya
Nigeria hits Kenya Airways with sanctions over viral clash with passenger, right breaches
Kenya Airways is facing penalties from Nigerian aviation authorities after the airline was found to have violated consumer protection regulations in at least three separate cases, including the widely publicised incident in February involving passenger Gloria Omisore. The Nigerian Civil Aviation Authority (NCAA) last week issued a formal sanction letter to Kenya Airways (KQ), citing failures ranging from denial of care to mishandling of refunds and compensation. Among the cases is that of Omisore, whose heated altercation with a KQ agent at Nairobi's Jomo Kenyatta International Airport was filmed and circulated on social media. The Lagos-based passenger was en route to Paris via Nairobi, but was denied boarding for not having a Schengen visa — a requirement for entry into the European Union. Kenya Airways said the passenger was instead offered an alternative route to London, which led to the altercation. The situation escalated when Omisore, visibly angry, threw used sanitary pads at the KQ agent. The footage sparked outrage online, drawing wider criticism of the airline's treatment of passengers and handling of customer service. In a statement at the time, Kenya Airways defended its staff, saying they had followed standard immigration and transfer procedures.'The video does not reflect the full context,' the airline said, adding that the matter was referred to security agencies for investigation. KQ also stressed that it upholds mutual respect and expects both staff and passengers to behave responsibly.'While we remain committed to delivering exceptional service, we expect all interactions to be based on mutual respect,' the airline stated.'Our employees deserve to work in a safe and dignified environment, and we do not tolerate any abuse from our employees or guests.'But Nigeria's aviation regulator said the incident — and two other complaints — pointed to deeper systemic issues. NCAA director of public affairs and consumer protection Michael Achimugu said the airline breached key passenger rights.'The sanctions are for consumer protection-related offences, including denial of right to care, failure to fully disclose conditions of carriage, refusal to respond to the Authority's requests, and failure to process refunds and compensation,' Mr Achimugu wrote on X (formerly Twitter). The NCAA has ordered Kenya Airways to pay 1,000 Special Drawing Rights (SDRs) — about $1,300 — to each affected passenger within seven days, and to implement corrective measures.'Failure to comply with the letter will result in stiffer penalties for the airline,' the NCAA said. At the time of going to press, Kenya Airways had not responded to questions regarding the sanctions. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
25-04-2025
- Business
- Zawya
Kenya Airways shares in Dar: Why there is no trading 3 months after freeze lift?
Kenya Airways (KQ) shares are still not trading on the Dar es Salaam Stock Exchange (DSE) more than three months after Kenya's regulator lifted the suspension of the stock on the Nairobi Securities Exchange (NSE), highlighting the challenges facing cross-listed stocks. A review of equity trading reports on the Tanzanian bourse shows that investors are not trading in KQ shares, missing out on the opportunity to unlock value in a stock whose price has remained dormant at Tsh80 ($0.03) per share. KQ is listed on the NSE and cross-listed on the DSE and Uganda Securities Exchange (USE). The EastAfrican has learnt that even though companies make strategic decisions to list their shares in other jurisdictions away from their primary markets, investors find it difficult to trade in cross-listed shares, as they are largely held by shareholders domiciled in the primary markets. While the KQ share has remained inactive on the DSE, it has gained 13.31 percent in more than three months since resuming trading on the NSE on January 6, 2025. The share price closed at Ksh4.34 ($0.034) on April 23, representing a 13.31 percent growth from Ksh3.83 ($0.02) when trading resumed. Uganda bourseHowever, the feel-good factor from the carrier's improved earnings has yet to yield much impact on the USE. KQ's share price on the USE rose from Ush113.44 ($0.03) on March 31, 2024 to Ush143.3 ($0.039) on March 31, 2025, according to the latest USE market trading data. USE chief executive Paul Bwiso said KQ was up to date with its listing fees and regularly publishes its financials on the market.'But it does not trade a lot on the USE. We expect to receive its latest financial statements before end of this month. But I'm yet to analyse Kenya Airways' current commercial turnaround plan,' he said. The KQ management did not comment on the dormancy of its stock on the DSE, and instead referred us to the Capital Markets Authority.'The answers you are seeking should be from the Capital Markets Authority,' said the airline's head of corporate communications Henry Okatch. Kenya's CMA says the dormancy of the KQ stock on the DSE is largely due to lack of supply of the shares as they are still held in a registry in Nairobi and are not available for trading on the Tanzanian bourse, a development the market regulator says cuts across most of the cross-listed shares in the region.'KQ was cross-listed in DSE and all the shares are registered in Nairobi. It means that there are no shares in the secondary market (DSE) and therefore trading on that market becomes very difficult, because the shares are held in Nairobi,' CMA chief executive Wycliffe Shamiah told The EastAfrican. He added that even those shareholders in Tanzania who might have bought KQ shares through the NSE may be reluctant to sell now in anticipation of price appreciation in the future.'I'm not saying that there are no shares of KQ in Dar es Salaam completely – they will have to confirm that fact, but availability and the intentions to trade may not be there,' Mr Shamiah said. Cross-listed stockCross-listing is usually a strategic financial decision that allows companies to expand their investor base and enhance liquidity by listing their shares on multiple exchanges. In East Africa, 10 companies have cross-listed their shares on multiple stock exchanges. These are KCB Group, Nation Media Group (NMG), East African Breweries Limited (EABL), Kenya Airways, Equity Group, Centum Investments, Jubilee Holdings, Umeme Ltd, the collapsed Uchumi Supermarkets and the Bank of Kigali (BoK). Kenya has most of its companies cross-listed on regional bourses. But currently, investors from Tanzania, Uganda and Rwanda who want to invest in the cross-listed companies on their respective bourses are forced to open Central Depository System (CDS) accounts in Nairobi because these shares are held in a registry by Kenya's Central Depository and Settlement Corporation (CDSC). This means that although these shares are cross-listed, they are not traded on the secondary market but on the NSE.'What we need is to have shares in Nairobi transferred to a depository in the other markets like USE, DSE and RSE [Rwanda Stock Exchange]. But, as long as those shares are sitting in a registry in Nairobi, trading in those shares becomes difficult,' Mr Shamiah said. The CDS is a computer system operated by the CDSC that facilitates electronic accounts opened by shareholders and manages the transfer of shares traded on the stock market.'Many barriers'According to the Kenya's CMA, attempts by regional capital markets regulators to boost liquidity in cross-listed shares through the automation and linkage of the trading systems and introduction of global depository receipts (GDRs) are yet to bear fruit.'We had tried to get a system which would allow us to have junctions so that these securities are available regardless of the jurisdictions but there are many barriers. For example, there are different jurisdiction laws that you will have to go through before. We have tried to harmonise that but that project— the EAC capital markets infrastructure— has not ended,' Mr Shamiah said.'The other alternative, which has become a discussion, is what we call global depository receipts (GDRs). This requires some frameworks to be harmonised, because it is a secondary instrument that has been developed on the original instrument. So, those discussions have been there but they haven't really moved. These were the two very near solutions to what is causing the illiquidity of cross-listed shares.'A GDR is a negotiable financial instrument that represents shares in a foreign company and is traded on local stock exchanges in the investors' countries. GDRs make it possible for a company (the issuer) to access investors in capital markets beyond the borders of its own country. The East African exchanges are working towards integrating the central depository systems and their electronic settlement systems into a single market in the hope of hastening trade in cross-listed shares and increasing liquidity. Kenya Airways shares resumed trading on the Nairobi bourse in January after a suspension of more than four years to pave the way for the restructuring of the company, including a proposed State-takeover through a nationalisation process. Read: Regulator sued over KQ shares trade freezeKQ shares were initially suspended from trading on the NSE on July 3, 2020 to allow for a reorganisation and corporate restructuring after members of parliament began to review a law that would allow the government to take over the loss-making airline and save it from potential collapse. But the National Aviation Management Bill 2020 has since been withdrawn from parliament after the William Ruto administration backtracked on nationalising the airline. KQ's chief executive Allan Kilavuka had petitioned the CMA in a letter dated December 16, 2024, for an extension of the trading suspension of the shares by an additional 12 months, but the regulator rejected the request and instead directed the NSE to lift the trading suspension with effect from January 6, 2025. It came as a relief to thousands of investors who held the KQ stock. KQ is currently majority owned by the government (48.9 percent) and a group of 11 banks under the KQ Lenders Company 2017 Ltd (38.09 percent), Air France-KLM (7.76) percent), employees (2.44 percent) and other shareholders at 2.8 percent. The government and 11 local banks converted part of their debts amounting to $265 million and $167.24 million into equity respectively as part of the financial restructuring plan in 2017. The firm announced a $42 million profit for 2024, ending an 11-year drought. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
14-04-2025
- Business
- Zawya
Kenya Airways welcomes aboard Fitsum Abadi Gebrehawaria as new Cargo Director
Nairobi, Kenya - Kenya Airways has appointed Fitsum Abadi Gebrehawaria as its new Cargo Director, marking a significant strategic move as the airline looks to boost its cargo operations. With over 25 years of industry experience, horning expertise in operational efficiency, strategic market expansion, and the development of robust global networks, Abadi is expected to play a pivotal role in accelerating growth across the airline's cargo division. Renowned for his tenure as Managing Director of Ethiopian Cargo & Logistics Services, the new KQ cargo Director has a distinguished career that includes senior leadership roles with organizations such as Salam Air and Ethiopian Airlines. Abadi's appointment comes at a time when Kenya Airways is embarking on an ambitious expansion plan designed to scale up cargo capacities. The airline is eyeing the acquisition of larger freighter aircraft by 2026 to better meet the growing demand, which is currently rising at an annual rate of approximately 11% – nearly double the rate observed before the COVID-19 pandemic. 'Mr. Abadi's appointment represents a significant milestone for Kenya Airways as we delve deeper into our strategic approach to capitalize on emerging opportunities in intra-African trade and global logistics markets. His distinguished record in catalyzing cargo market expansion and fostering enduring customer relationships positions him as the ideal leader to guide our division in achieving our most ambitious performance objectives,' stated Mr. Allan Kilavuka, Group Chief Executive Officer of Kenya Airways. Abadi's strategic vision is anticipated to bolster Kenya Airways' position as a leader in African cargo logistics, driving the airline forward into a new era of operational efficiency and market competitiveness. -Ends- About Kenya Airways: Kenya Airways (KQ), The Pride of Africa, is a leading African carrier on a mission to propel Africa's prosperity by connecting its people, cultures, and markets. We fly to 45 destinations worldwide, 37 of which are in Africa, connecting over 5 million passengers and over 70,000 Tons of cargo annually through our Hub at Nairobi's Jomo Kenyatta International Airport. As the sole African carrier in the SkyTeam Alliance, we open up a world of possibilities for our customers, connecting them to over 1,060 destinations in 173 countries. We take pride in offering a delightful flying experience with a caring African touch. Our exceptional African hospitality has consistently earned us global recognition including the prestigious Skytrax World Airline Awards where we were honoured with the Best Airline Staff and Best Airline Cabin Crew in Africa in 2024. For more information, visit or call our 24-hour Customer Services Desk at +254 20 327 4747. We are also available on Twitter: @KenyaAirways & @KQSupport, Facebook: @OfficialKenyaAirways, and Instagram: @OfficialKenyaAirways. For media enquiries, please contact Kenya Airways Corporate Communications:
Zawya
08-04-2025
- Business
- Zawya
Kenya Airways goes live with NDC content in Amadeus
Nairobi, Kenya: Kenya Airways (KQ) has started deploying its New Distribution Capability (NDC-sourced) content to travel seller customers in Kenya via the Amadeus Travel Platform. This follows KQ's decision to adopt Altéa NDC to effectively and consistently distribute and service new content and fares through an NDC connectivity across channels, enhancing its retailing capabilities. The strong synergies between Altéa NDC and the Amadeus Travel Platform will enable faster and smoother implementation of the airline's NDC offers, reducing time to market and bring enhanced productivity to travel sellers. Amadeus-connected travel sellers will therefore be among the first to gain access to NDC content from one of the most progressive carriers in the region. NDC (New Distribution Capability) is an IATA-developed XML-based data transmission standard that aims to modernize how airlines distribute and sell their products, offering airlines greater flexibility and control over their content and distribution channels. When fully implemented, travel sellers worldwide will have access to the entire Kenya Airways NDC content offering, allowing agents to build new and exciting travel offers. Julius Thairu, Chief Commercial and Customer Officer, Kenya Airways noted, 'This is a significant milestone for Kenya Airways as we continue to innovate and enhance our travel retailing capabilities. Amadeus has been at the forefront of driving NDC adoption across the global travel ecosystem and was therefore the natural choice for this step on our distribution journey. We are very happy to be able to offer our full range of NDC content through Amadeus' leading technology and to its travel sellers' network.' Christophe Roux, SVP Airlines, Middle East, Turkey and Africa, Amadeus, further added that, 'Kenya Airways was among the first airlines in Africa to understand the value that NDC technology could offer for its customers, and it's a pleasure to help that retailing ambition come to life. We are very proud that Kenya Airways has trusted Amadeus end to end to enable its modern retailing strategy. With Kenya Airways' NDC content live on the Amadeus Travel Platform, the airline will benefit from significant reach throughout the global community of travel sellers, which again will have the ability to create the bespoke, personalized offers travelers of today expect.' -Ends- About Kenya Airways: Kenya Airways (KQ), The Pride of Africa, is a leading African carrier on a mission to propel Africa's prosperity by connecting its people, cultures, and markets. We fly to 45 destinations worldwide, 37 of which are in Africa, connecting over 5 million passengers and over 70,000 Tons of cargo annually through our Hub at Nairobi's Jomo Kenyatta International Airport. As the sole African carrier in the SkyTeam Alliance, we open up a world of possibilities for our customers, connecting them to over 1,060 destinations in 173 countries. We take pride in offering a delightful flying experience with a caring African touch. Our exceptional African hospitality has consistently earned us global recognition including the prestigious Skytrax World Airline Awards where we were honoured with the Best Airline Staff and Best Airline Cabin Crew in Africa in 2024. . In addition, we were ranked Top Employer of the Year by The Employers Institute and the Africa Leading Airline at the World Travel Awards 2024 For more information, visit or call our 24-hour Customer Services Desk at +254 20 327 4747. We are also available on Twitter: @KenyaAirways & @KQSupport, Facebook: @OfficialKenyaAirways, and Instagram: @OfficialKenyaAirways. For media enquiries, please contact Kenya Airways Corporate Communications: About Amadeus: Amadeus makes the experience of travel better for everyone, everywhere by inspiring innovation, partnerships and responsibility to people, places and planet. Our technology powers the travel and tourism industry. Inspiring more open ways of working. More connected ways of thinking, centered around the traveler. Our open platform connects the global travel and hospitality ecosystem. From startups to big industry players and governments too. Together, transforming how travel works. We are working to make travel a force for social and environmental good. A collective responsibility to protect and improve the people and places we visit, ensuring travel continues to make positive contribution to our world. We apply innovation to meet new needs, to solve real challenges. Our truly diverse global workforce, made up of 150 nationalities, is passionate about travel and technology. We are an IBEX 35 company, listed on the Spanish Stock Exchange under We have also been recognized by the Dow Jones Sustainability Index for the last 13 years. Amadeus. It's how travel works better. Learn more about Amadeus at and follow us on LinkedIn, Facebook, X, Youtube, Snapchat.
Zawya
02-04-2025
- Business
- Zawya
Enduring lessons for Africa from Kenya Airways' financial turnaround
Kenya Airways return to profit after an 11-year drought, is emblematic of the challenges and opportunities of African Aviation. It also demonstrates that if it takes a professional approach, Africa has the talent to manage and turn round most of its pressing problems. Home to 18 percent of the world's population, Africa accounts for a paltry 2.2 percent of global air passenger traffic. The miniscule number combined with positive economic growth rates and a young population are often presented as evidence of the unmet need and therefore opportunity for growth of air transport. But the same number also reflects the fragility of the air transport business in Africa. Margins are woefully thin, with airlines barely making a dollar on each passenger they carry. Markets are disconnected, complicated by closed skies, policy dissonance and a supply chain where everything costs airlines at least 30 percent more. Kenya Airways $42 million profit for 2024, was delivered by a mix of topline growth, cost management and a propitious exchange rate. Twelve years ago, just before it plunged into the loss that would shock the nation in 2014, everything was going well for Kenya Airways. Betting on a booming African market, it invested in expansion, launching long-haul routes to Asia. Then everything rapidly unravelled after the outbreak of Ebola in West Africa, throwing all plans into disarray and the airline into a crisis of a disconnected market, rapidly falling revenues and mounting debt. As the crisis at Embakasi deepened, the shareholders did what we often do in such situations — outsource expat management. Yet a whole suite of expatriates were easily overwhelmed by the challenge at KQ. There are several lessons from all this. Above them is that in Africa, you don't have to do anything wrong for things to go south. And when they do, the solution is not necessary to be found outside the continent. Chief executive Allan Kilavuka, who led KQ's turnaround was managing its budget subsidiary, Jambojet. Running a small airline on a small budget probably gave him the experience that made him best-suited to nurse the stricken airline back to life. But he was lucky too. The sheer scale of KQ's predicament, shocked critical publics into supporting the painful trade-offs that would be necessary if the carrier was to have a fighting chance. With board chair Michael Joseph at the helm, and the prying eyes of lenders who converted their loans into equity, the quality of governance at KQ went a notch up. Last year's performance is not just the result of resilience but a combination of the right strategy, the courage to carry through difficult decisions and patient shareholders. Despite continuing challenges, KQ's rebound makes a case for the much-maligned state-owned airlines in Africa. Were KQ a purely private airline, it is doubtful that the will to save it would have been as resolute or that the resources to do so would have come around. Ultimately, KQ should and will in time be privatised. But the enduring lesson for now, is that Africa should learn to look inwards for solutions and create a system that allows its best to rise to the top. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
