Data provided by McGregor BFA
All data is delayed
Loading...
See More

Kenya Airways tumbles

Dec 04 2012 19:14 Reuters

Related Articles

Kenya inflation seen close to bottom

Daewoo to build Kenyan power station

Nigeria makes credit ratings debut

Kenya cuts lending rate by 11%

Kenyans see red over pricey govt chairs

Massmart in talks to enter Kenya

 
SHARES in Kenya Airways sunk 9.5% to an 8 1/2-year low of 10.50 shillings after a court ordered the airline reinstate more than 400 workers laid off earlier this year as part of cost cuts.

Kenya Airways says it will obey the ruling, which analysts said will squeeze profit margins badly.

"(The court order) puts investors in a difficult position because its difficult to know when profitability will be attained," says Eric Musau, a research analyst at Standard Investment Bank, adding that the high costs were unsustainable.

The airline swung into a pre-tax loss in the first half of this financial year.
kenya airways  |  kenya
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zuma: Booers are empty vessels

President Jacob Zuma has labelled people who boo at him "empty vessels who make the most noise".

 
 

Latest elections multimedia

DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...