Kenya Airways (KQ) is in a deep mess. The national carrier is a shell of its former self. The thieves have run roughshod and fleeced the company millions in a well crafted scheme which seems to be meant to run it down and then cheaply buy the airline off.
The people behind the strategy includes former CEO Titus Naikuni, current Finance Director Alex Wainaina Mbugua and 2 top State House (Office of the President) personnel.
The scheme to run down Kenya Airways started right from the Office of the then President Kibaki and involved senior OP and DoD officials. Also roped into the deal is KQ Finance Director and the current CEO.
The Finance Director is said to be so deep into the corrupt deals meant to bring down KQ to its knees that he recently bought 14 very high end properties in Johannesburg with 6 of the properties being located in the affluent Sandton area.
First, they set up four offshore companies called Twiga, Amboseli, Jetspace and Samburu which knew what aircraft Kenya Airways (KQ) needed and so approached Boeing and Embraer to deliver the same.
The problem is that, without investing a single cent, the owners of the companies got KQ LPOs and managed to use the same to get loans from Afro-Exim Services.
Of the KQ fleet, the Embraer E170 series are being phased and replaced by the E190s. Key individuals in the Office of the President are said to own the 5Y-KYR, KYS and KYT.
Another 10 aircrafts with registrations 5Y-FFA to FFJ are said to be owned by another powerful Kenyan family which earns them more than $500,000.
Currently, none of the Dreamliners (Boeing 787s) are flying. This is because the maintenance cost is so high and the owners who have not been fully paid for the aircrafts are said to be planning to detain some of the planes in case they fly outside the country. One of the planes was recently detained in China and released only at the intervention of key State House officials.
Read the full article here.
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