Did Kenya Airways (KQ) manipulate books to show profitability to allow ADANI Holdings to take over JKIA? – LOOK!

Tuesday, August 20, 2024 - Kenya Airways surprised Kenyans on Monday by announcing that it has made a profit for the first time in 10 years.

The struggling airline had been posting losses for the past decade, but on Monday, CEO Allan Kilavuka announced a Sh513 million half-year profit.

The growth represents a 102% rebound from the Ksh.21.7 billion loss that the airline posted in a similar period last year.

What many Kenyans didn’t know is that the airline allegedly manipulated the accounts to please the Kenya Kwanza Alliance government (its largest shareholder) and to distract Kenyans from the potential takeover of Jomo Kenyatta International Airport (JKIA) by Adani Holdings.

“Yes it is not the actual account of Kenya Airways but you know the government has a major stake here and it makes decisions,” said one accounting intern who requested anonymity.

The source also revealed that Kenya Airways management has been under pressure from the State House to present the airline as profitable, despite ongoing losses amounting to billions.

The Kenyan DAILY POST