• Kenya Airways
  • XUGA:KA KAMPALA/Uganda
  • 230.00 UGX
  • 0.00 0.00%
  • As of 2017/05/26
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  • About the Company
  • Kenya Airways is an international operating passenger and cargo flights to destinations in Africa, Middle East, Asia and Europe. Cross-listed in Nairobi.
  • Kenya Airways Limited is engaged in international, regional and domestic carriage of passengers and cargo by air, the provision of ground handling services to other airlines, and the handling of import and export cargo.

    The Company’s segments include Passenger, Freight and mail, Handling and Others.

    The Company operates domestic flights and flies to approximately 50 destinations in Africa, the Middle East, Asia and Europe. The Company has approximately 47 aircrafts, which include five Boeing 777 wide body jets, nine Boeing 787, 12 Boeing 737 narrow body jets, 17 Embraer regional jets, two Boeing 737 freighters and two Bombardier Dash 8-400. The Company also provides mobile services.

    The Company’s subsidiaries include JamboJet Limited, which is engaged in providing local passenger air transport services, and African Cargo Handling Limited, which is engaged in providing cargo handling services.

    Website

    Address

    Airport North Road
    P.O. Box: 19002, Embakasi
    Nairobi, 00501
    Kenya

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After a low of $149m in net revenues in 2013, net revenues have grown 7.7% this year slower than last year when they grew at 10%. With this growth they have not recovered to their 5-year peak of £170m
Revenue per year in US $ The higher, the better.
Profits have increased for the last 3 years $47.3m but have not recovered to peak of $51.8m in 2012
Profits per year in US $ The higher, the better.
Profit margins have remained below 30% despite increase in profits indicating a struggle to keep control of costs.
Profit Margin compared to competitors The higher, the better.
Stanbic has maintained return on assets above 3% which is double the global average but is still below the local average.
Management of Assets compared to competitors The higher, the better.
Costs as a percentage of revenue is at 62.82% significantly lower than its peak of 69.85% in 2013. This cost percentage is a lot better than the local average but worse than African average.
Management of Costs compared to competitors The lower, the better.
Cash generation by Stanbic has halved since 2012 but better than 2013 when cash generation was negative due to increased losses in government securities.
Cash Generation compared to competitors The higher, the better.
Assets are currently 90% financed by banks, this may seem high but is similar for both local and African banks. This dependence on debt has reduced slightly over the last few years
Level of Debt compared to competitors The lower, the better.
Stanbic Bank can comfortably cover its immediate debts similar to all local banks. The margin between the liquid assets and current liabilities for Stanbic is lower than other local banks but this has been driven by a drastic increase in customer deposits.
Ability to pay debt compared to competitors The higher, the better.
The available cash (working capital) has increased by 70% over the last 5 years from $112m to $191m. This shows that Stanbic has become more efficient and healthier. This enables that Stanbic to invest more money within the business.
Liquidity/Cash Availability compared to competitors The higher, the better.
Revenues have grown slower than other local banks but the growth in profits has been faster than its local peers. In 2013, Stanbic experienced a 12% drop in profits and 33% drop in revenues, similar to other local banks - this drop in earnings was due to slowdown following the 2011 Ugandan election.
Revenue Growth compared to competitors The higher, the better.
Profit Growth compared to competitors The higher, the better.
Stanbic continues to have pay out the highest level of dividends in Uganda and Africa. Currently Stanbic pays out 3% of its share price but this is half of what it paid out the previous year. This is different from other local banks where dividends have gone back.
Despite Stanbic having high levels of dividend, this drop in dividend yield raises concern about how long this will be sustained.
Return on Equity compared to competitors The higher, the better.
Dividend Yield compared to competitors The higher, the better.
Stanbic Uganda has increased the investment in the business since 2011, and is doing it at the highsest levels both locally and in Africa.
Level of Investment per year in US $ The higher, the better.
Investment Ratio compared to competitors The higher, the better.

EPCOR, the AFI KLM E&M subsidiary specializing in the overhaul and maintenance of APUs and pneumatic components, is to handle maintenance for the APUs equipping Kenya Airways Boeing 737 Next Generation (GTCP131-9B), Boeing 787 (APS5000) and Embraer 190 (APS2300) aircraft under the terms of an exclusive contract signed between the Kenyan carrier and AFI KLM E&M. The contract covers APU overhauls, repairs and logistics/AOG support, plus the supply of spare APUs.

Kenya Airways is conversant with EPCOR solutions after entrusting the AFI KLM E&M affiliate with the care of the APUs equipping its 737 Next Generation aircraft. Satisfied with the service level and quality delivered under the previous contracts, Kenya Airways has decided to extend its partnership with AFI KLM E&M and EPCOR. Moreover, EPCOR is the only MRO to lavish its expertise on virtually the full array of APUs equipping major commercial aircraft, and is, in fact, the only (oeM licensed) MRO able to handle the three types of products for which Kenya Airways needed support solutions. In benefitting from a single point of contact for its APU maintenance, the Kenyan carrier also gains in terms of cost, responsiveness, and simplicity

KENYA Airways on Monday introduced direct flights between Nairobi and Victoria Falls in Zimbabwe.

The new flights, was introduced after another regional carrier, Ethiopian Airways, announced flights on the same route last month.

Kenya Airways will fly three times a week, on Mondays, Thursdays and Saturdays and will also link with Cape Town in South Africa.

South African Airways has also increased its capacity on the route, introducing the Airbus A330 aircraft in March.

The increased capacity is expected to grow its passengers numbers by 80 000 this year alone.

In a speech to mark the start of the flights on Monday, Kenya Airways chief executive officer, Mbuvi Ngunze, said the airline was determined to play its part in making sure that Africa was seamlessly connected.”In addition to enhancing Africa integration, this new route will provide room for Zimbabwe’s tourism industry as it establishes vital links between the majestic Victoria Falls and the tourism source markets in our global network. The resultant benefit of our wide route network is increased connectivity, flexibility and traveling convenience to visitors from across the world visiting Victoria Falls and onwards to other destinations,” Mbuvi said. 

Kenya Airways has appointed former LOT Polish Airlines head Sebastian Mikosz as Group MD & CEO, effective June 1. Mikosz replaces incumbent Mbuvi Ngunze, whose departure was announced in November 2016.

Ngunze stayed on while the company searched for a successor and continued to steer what the airline described as “the complex capital optimization program” to try to reduce heavy losses.

Kenya Airways’ chairman Michael Joseph noted Mikosz had twice held the role of president and CEO at LOT, during which he was involved in “an in-depth turnaround of the company leading to it first positive results in many years.”

Kenya Airways has experienced heavy losses in the past two years.

Mikosz will be responsible for resurrecting the fortunes of the African carrier.

Joseph and the board of directors had warm words for outgoing CEO Ngunze. “Mbuvi has led KQ during an extremely challenging period … ensuring that the airline stayed afloat, leading from the front in negotiations with financiers and critical partners, and launching the turnaround , which has achieved key milestones and whose results we are now seeing. Mbuvi will stay on beyond June as advisor to the company. 

Sebastian Mikosz, the new Kenya Airways chief executive officer who jets into the country next week to meet KQ’s top management, should be relatively at home with the assignment given his previous postings, reputation and record.

The father of three started his aviation career in 2009 when the Polish government tapped him to head the country’s national carrier, LOT Polish Airlines where the State has 69.97 per cent stake.

The airline was at the time facing a bankruptcy, was losing passengers to rivals and had, like KQ, reported losses in successive years.

Sebastian Mikosz, the man Kenya Airways has picked to lead its turnaround journey, is a ruthless and well-known cost management hawk whose tenure at the national carrier is initially expected to further shrink the airline’s workforce and squeeze out fat from its various operating arms, the Business Daily can reveal.

Mr Mikosz, who takes over from Mbuvi Ngunze, faces the task of piloting the airline through its most turbulent terrain that is paved with a Sh145.8 billion debt and a loss-making streak that has persisted in the past four years.

Kenya Airways is about to conclude its capital restructuring, its chairman said Wednesday, edging closer to putting past financial woes behind it, the carrier’s chairman said.

The airline, part-owned by the State and AirFrance KLM, sank into the red four years ago after tourism slumped following a spate of attacks in Kenya by militants from the Somalia-based al Shabaab Islamist group. Last year the carrier had negative equity of $339 million (Sh35 billion), Reuters data showed, and the business was sustained by shareholder loans.

Its financial predicament caused delays in paying staff, industrial action and the ousting of chief executive Mbuvi Ngunze, who is being replaced by Sebastian Mikosz, a Polish national who has prior experience of turning around an ailing airline.

“We are heading towards a conclusion on the capital-restructuring. We hope now that we will conclude this end of June, middle of July,” Michael Joseph, the airline’s chairman, told Reuters Wednesday.

Mr Joseph said the major shareholders, including the Kenyan Government, were involved in the restructuring, without providing more details.

 Jambo jet plans to stabilize its key routes in the country and extend its services to the East Africa region.

Already the company, which is celebrating its second anniversary, intends to acquire two new air crafts in May and November this year so as to ensure their operations are smooth.

The airline which is an affiliate of Kenya Airways said their aim is to ensure there are no longer unnecessary delays, and provides efficient services to their clients in the existing routes before venturing outside the country.

Jambo jet CEO Willem Hondius told journalists that the company has already acquired a new aircraft (in January) which is already in service on its key routes.

Speaking during the official handing over of a water reservoir project at Manda primary school in Lamu on Thursday, Hondius said delays experienced by the flight will be no more.

In December, the airline experienced massive delays that led to complaints by many passengers.Hondius said the company had planned to have the new airline before December but it was delivered in January. 

Kenya Airways Limited is engaged in international, regional and domestic carriage of passengers and cargo by air, the provision of ground handling services to other airlines, and the handling of import and export cargo.

The Company’s segments include Passenger, Freight and mail, Handling and Others.

The Company operates domestic flights and flies to approximately 50 destinations in Africa, the Middle East, Asia and Europe. The Company has approximately 47 aircrafts, which include five Boeing 777 wide body jets, nine Boeing 787, 12 Boeing 737 narrow body jets, 17 Embraer regional jets, two Boeing 737 freighters and two Bombardier Dash 8-400. The Company also provides mobile services.

The Company’s subsidiaries include JamboJet Limited, which is engaged in providing local passenger air transport services, and African Cargo Handling Limited, which is engaged in providing cargo handling services.

Website

Address

Airport North Road
P.O. Box: 19002, Embakasi
Nairobi, 00501
Kenya

Kampala — The interconnectedness of the Uganda Securities Exchange (USE) to the Nairobi Securities Exchange (NSE) has a lot to do with the dismal market performance in 2016.

The market had started the year with a capitalisation of Shs24.5 trillion but by Wednesday December 28, with only two days left to trading, it had fallen to Shs20.3 trillion.

The USE has eight cross-listed firms from the NSE, especially on account of commercial banks in Kenya losing value in their shareholding. Kenya Airways, Jubilee Holdings, Centum Investments, KCB Group, Equity Group, UCHUMI, Nation Media Group and East African Breweries are the eight cross-listed companies.

Cross-listing refers to where company shares are floated on a different stock exchange – in this case, a foreign country – after being listed on the primary stock exchange. In this case, the eight Kenyan companies are listed on the primary market (NSE) but cross-listed on the secondary market (USE).

These companies do have subsidiaries that do business in Uganda.

Capping interest rates On August 24, 2016 president Uhuru Kenyatta signed into law a law that allows Kenya to cap interest rates.The following day, listed Kenyan banks saw the value of their shares tumbled sending the stock markets in Kenya […]

African airlines are expected to continue reporting losses next year with the rise in oil prices expected to compound their challenges. The International Air Transport Association (IATA) expects the industry in Africa to post a KSh80 billion ($800 million)  loss in 2017.

The performance is comparable to what they reported in 2016. The losses will make Africa the only region that is not profitable for airlines with carriers in all other regions reporting profits.

Major African carriers including Kenya Airways and South African Airways have reported losses in the last year. Only Ethiopian Airlines has remained consistently profitable.

“Carriers in Africa are expected to deliver the weakest financial performance with a net loss of $800 million (broadly unchanged from 2016).

For each passenger flown this amounts to an average loss of $9.97. Capacity in 2017 is expected to grow by 4.7 per cent, ahead of 4.5 per cent demand growth,” said IATA in its latest industry update. READ MORE

“The region’s weak performance is being driven by regional conflict and the impact of low commodity prices.”The price of crude oil has started going up after the Organisation of Petroleum Exporting Countries (OPEC) agreed to cut production in a bid to push up prices.

Kenya Airways is set to incur an additional Sh3 billion ($30m) accounting loss from new aircraft sub-leasing contracts, representing the deficit between what it is earning on the deals and its payments to the primary lessors.

The national carrier disclosed the new onerous leases in its financial statements for the half-year ended September.

These follow the leasing of five Boeing airplanes to Oman Air and Turkish Airlines last year in a deal that left the Nairobi Securities Exchange-listed firm with a Sh4 billion ($40m) accounting loss in the year ended March.

KQ, as the airline is known by its international code, says the losses arise from leasing out aircraft at rentals lower than that charged by the primary lessors.

The leases are part of the company’s efforts to cut costs at a time when slow revenue growth and mounting liabilities have kept it in the loss territory.

The additional sub-leasing of aircraft involves the same carriers, with Oman Air taking two B787-8s and Turkish Airlines taking three B777-300ERs.This brings the total number of aircraft seconded to the Muscat-based carrier to four while those sent to the Istanbul-based airline rises to six.