FINANCIAL TURNAROUND IN SIGHT FOR KENYA AIRWAYS
(Posted 12th February 2017)
Kenya Airways has reportedly entered the decisive phase of its ‘Operation Pride‘ which when launched over a year ago aimed to restore profitability to the airline after some years of heavy losses.
In the process has the carrier also, apparently by mutual agreement, terminated the consultancy agreement with American firm McKinsey after just one year into an 18 month contract but according to information received and confirmed entered into a one off arrangement under which McKinsey will provide specialised consultancy services otherwise not available inhouse.
McKinsey made numerous suggestions after an initial fact finding mission across the airline’s departments and stations and much of it has been taken on board by the airline’s management and to some extent already been implemented.
No details however could be obtained on a potential successor to CEO Mbuvi Ngunze who late last year signalled he would step down by April this year, prompting an executive search for a professional airline manager with the pedigree to turn carriers’ financial fortunes around.