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- Oct 31, 2011
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KENYA AIRWAYS AND CAPITAL MARKET AUTHORITY ANNOUNCE SHARE ISSUE DATES
An elaborate presentation by the Chief Executive and Group Managing Director of Kenya Airways, Dr. Titus Naikuni, rang in the countdown towards the 30th of March, whenthe new share issue will be formally launchedin the market, following the final approvals last Friday by the Capital Market Authority of Kenya.
This will be the largest ever share rights issuein the Eastern and Central African region, if not the whole of Africa, aimed to raise some 250 million US Dollars in new capital, and as afurther novelty, 49 percent are already subscribed firmly by the Government of Kenya, which holds 23 percent and KLM / Air France which holds 26 percent of the issued shares.
Kenya Airways, initially formed in 1977 after the breakup of the old East African Airways, was put on the path of privatization by the Kenya government in 1996 and has since grown from strength to strength carrying over 3 million passengers last year and showing operating profits every year since.
Dr. Naikuni pointed out that the overall financial requirement until 2011, when the airline was to have grown from the present 34 aircraft to 119 aircraft, a fleet of dedicatedfreighters included, will be in the region of a staggering 3.6 billion US Dollars while in the near term some 151 million US Dollars were due for fees to EXIM Bank in the United Statesto issue guarantees for the purchase of aircraft already ordered and new orders to be placed very soon.
Amongst other developments was it mentioned that the B737-800 fleet will grow from the present 5 aircraft to 10 by 2014/15 and to 18 by 2018/19 financial years while the fleet of B777s of 300ER, 200LR and 200ER make is set to grow to 4 each and 12 overall. The presently ordered B787 Dreamliners are under current assurances by Boeing due to arrive from March 2014 onwards, no longer by the end of 2013 and the 9 under firm order and 4 options are likely to be sharply raised to meet the fleet and route development plans of The Pride of Africa 10 years from now.
From the current 55 destinations in 45 countries on 4 continents KQ intends to fly to 115 destinations in 77 countries on all continents from JKIA, also a reminder for the Kenya Airport Authority to pull up their socks and complete the expansion works presently underway and begin the long overdue construction of a second runway and yet another terminal, without which Kenya Airways plans would be in tatters for lack of infrastructure at their hub airport.
The trading in shares for Kenya Airways will close this Friday, 19th of March and will then not resume until the 12th of June.....
for entire document follow link,
http://www.google.com/m/url?client=...kQFjAA&usg=AFQjCNHnlY5ahgyoDfY4ldlnPlXr3LGB_Q
https://wolfganghthome.wordpress.co...ights-issue-after-cma-grants-final-approvals/
An elaborate presentation by the Chief Executive and Group Managing Director of Kenya Airways, Dr. Titus Naikuni, rang in the countdown towards the 30th of March, whenthe new share issue will be formally launchedin the market, following the final approvals last Friday by the Capital Market Authority of Kenya.
This will be the largest ever share rights issuein the Eastern and Central African region, if not the whole of Africa, aimed to raise some 250 million US Dollars in new capital, and as afurther novelty, 49 percent are already subscribed firmly by the Government of Kenya, which holds 23 percent and KLM / Air France which holds 26 percent of the issued shares.
Kenya Airways, initially formed in 1977 after the breakup of the old East African Airways, was put on the path of privatization by the Kenya government in 1996 and has since grown from strength to strength carrying over 3 million passengers last year and showing operating profits every year since.
Dr. Naikuni pointed out that the overall financial requirement until 2011, when the airline was to have grown from the present 34 aircraft to 119 aircraft, a fleet of dedicatedfreighters included, will be in the region of a staggering 3.6 billion US Dollars while in the near term some 151 million US Dollars were due for fees to EXIM Bank in the United Statesto issue guarantees for the purchase of aircraft already ordered and new orders to be placed very soon.
Amongst other developments was it mentioned that the B737-800 fleet will grow from the present 5 aircraft to 10 by 2014/15 and to 18 by 2018/19 financial years while the fleet of B777s of 300ER, 200LR and 200ER make is set to grow to 4 each and 12 overall. The presently ordered B787 Dreamliners are under current assurances by Boeing due to arrive from March 2014 onwards, no longer by the end of 2013 and the 9 under firm order and 4 options are likely to be sharply raised to meet the fleet and route development plans of The Pride of Africa 10 years from now.
From the current 55 destinations in 45 countries on 4 continents KQ intends to fly to 115 destinations in 77 countries on all continents from JKIA, also a reminder for the Kenya Airport Authority to pull up their socks and complete the expansion works presently underway and begin the long overdue construction of a second runway and yet another terminal, without which Kenya Airways plans would be in tatters for lack of infrastructure at their hub airport.
The trading in shares for Kenya Airways will close this Friday, 19th of March and will then not resume until the 12th of June.....
for entire document follow link,
http://www.google.com/m/url?client=...kQFjAA&usg=AFQjCNHnlY5ahgyoDfY4ldlnPlXr3LGB_Q
https://wolfganghthome.wordpress.co...ights-issue-after-cma-grants-final-approvals/
