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{
    "id": 696237,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/696237/?format=api",
    "text_counter": 28,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Hon. Speaker, pursuant to Standing Order 33(1), I seek leave of the House to allow a Motion for Adjournment of the House to discuss the imminent collapse of the country’s national carrier, Kenya Airways (KQ), due to diminishing financial returns. Kenya Airways, which was founded in 1977 as the country’s national carrier and rose to become the acclaimed ‘Pride of Africa’ and the airline of choice regionally, continentally and globally, has been experiencing unprecedented financial turbulence. Over the past four years, the airline’s financial fortunes have been diminishing and its competiveness waning. In the 2014/2015 Financial Year, KQ posted a loss of Kshs25.7 billion. The situation worsened in the 2015/2016 Financial Year when the airline recently posted a net loss of Kshs26.22 billion, the worst ever financial results for a listed corporate company in our country. The dwindling financial performance of KQ is said to threaten to clip its wings and ground the operations of the once celebrated ‘Pride of Africa’ to a halt. The doubts over its going concern puts into uncertainty the Government’s investment of more than 29 per cent shareholding and the yield of the publicly-listed shares and those of private persons. I, therefore, seek adjournment of the House to discuss this important matter of national concern and reflect on the claims of irregularities---"
}