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"id": 549440,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/549440/?format=api",
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"type": "speech",
"speaker_name": "Sen. (Prof.) Anyang'- Nyong'o",
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"speaker": {
"id": 193,
"legal_name": "Peter Anyang' Nyong'o",
"slug": "peter-nyongo"
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"content": ", for example, on 2nd May, 2015 had the headlines saying “Cash short Kenya Airways seeks rich partners to lease Dreamliners’. On the 27th March, 2015, edition of the same paper, there was a headline saying “Broke Kenya Airways borrowing to pay salaries” on 19th March, 2015 another headline in our paper saying “Tanzania reduces Kenya Airways flights with Dar” those flights were reduced from 47 to 14. The financial crisis in Kenya Airways has been estimated that at the moment our flag carrier is Kshs18 billion in the red. During the first financial year, Kenya Airways made a loss of Kshs10 billion. It is estimated that unless something is done very quickly, the airline will come to a standstill or ground to a halt in a matter of one month. Madam Temporary Speaker, you remember during the Seventh Parliament in 1995/1996 Financial Year, after an International Finance Corporation (IFC) recommended the privatization of Kenya Airways, on condition that the Kenyan Government could write off a debt of Kshs6 billion. We in the then Parliament, including Sen. Boy Juma Boy, Sen. Orengo and many others, agreed that the people of Kenya should bear the burden of swallowing the Kshs6 billion debt to Kenya Airways in the re- structuring process, so that it could be privatized and it went into partnership with KLM under the Chairmanship of hon. Isack Amollo Okello; the former Minister for Communication from 1996 onwards. With the capable board, Kenya Airways made profits and became a leading airline not only in Africa, but in the world. Towards the end of the captainship of Mr. Titus Naikuni, who was the Chief Executive Officer (CEO), the airline has started to have a nosedive, particularly because of some of the investment initiatives that he took which were extremely ill-informed and because of the rent-seeking capacity of the management and other private individuals who are now bet on sinking the airline. For example, over the last couple of months, there have been frequent delays of Kenya Airways flights taking off in many places, Dar es Salaam, Mumbai, Amsterdam, Accra, Entebbe, London, Kisumu, Nairobi and Mombasa. One of the most devastating thing is that whenever Kenya Airways cancels a flight, the airline bears the cost of that cancellation. For example, when it cancelled a flight in Amsterdam, not too long ago, flight KQ 116, it cost Kenya Airways, Kshs47 million in terms of keeping passengers in hotels, paying for their accommodation, paying The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}