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MarketScreener Homepage  >  Equities  >  NAIROBI STOCK EXCHANGE  >  Kenya Airways PLC    KQNA   KE0000000307

KENYA AIRWAYS PLC

(KQNA)
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Kenya Airways : Sets Up a Flight Simulator to Boost Safety

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07/12/2019 | 06:06am EDT

Kenya Airways (KQ), together with its subsidiary Jambojet and Flight Safety International have today signed a tripartite agreement that will see Flight Safety International (FSI) provide a Dash 8 Q400 simulator to support training of their cockpit crew and maintenance teams.

FSI's flight simulator will be housed at the Kenya Airways Pride Center and will improve availability and quality training to Jambojet pilots as well as other Q400 operators in Africa.

"The number of Q400s in Africa is growing, with a limited number of simulators to support the training. The estimated number of Q400 aircraft in Africa is over a hundred (100) being served by only three (3) simulators. The agreement is a step forward in building the capacity of our training programs and cementing our focus on safety and quality" said Sebastian Mikosz, Managing Director and Chief Executive Officer, Kenya Airways.

Flight Safety International is the leading provider of Q400 simulators that provide unmatched realism. They deliver world-class aviation training services for pilots, technicians, flight attendants and dispatchers, with a compelling mix of resources designed to and reflecting the advanced equipment used in today's aircraft.

Patrick Coulter, Director - Business Development, Commercial Training and Simulation said, "We have a large footprint across the globe and we are excited about having our second partnership in Africa. It is an excellent opportunity for us to extend our expertise in the region as we continue facilitating training through provision of high quality simulators."

Kenya Airways and Jambojet are looking forward to leveraging on FSI's wealth of experience to continue improving safety in Africa's aviation.

Jambojet which in 2019 marked five (5) years since inception currently operates a fleet of five (5) Q400 aircrafts and this is expected to grow to eight (8) in 2019 and fifteen (15) by 2021 as part of it's fleet expansion strategy.

Allan Kilavuka, Managing Director and Chief Executive Officer, Jambojet noted that Africa's airspace remains vibrant and with the advancement in technology, relevant support is required to ensure efficiency and guarantee safety to remain competitive. "As the anchor user, we are glad to be in partnership with an organization that views safety as a promise and commitment and we will rely on their knowledge and skill which have improved safety in aviation across the world over the last 68 years" said Kilavuka.

Copyright Capital FM. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (KES)
Sales 2019 122 B
EBIT 2019 3 147 M
Net income 2019 264 M
Debt 2019 59 357 M
Yield 2019 -
P/E ratio 2019 109x
P/E ratio 2020 32,5x
EV / Sales2019 0,72x
EV / Sales2020 0,60x
Capitalization 27 837 M
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Consensus
 
Mean consensus SELL
Number of Analysts 1
Average target price 0,80  KES
Last Close Price 4,90  KES
Spread / Highest target -83,7%
Spread / Average Target -83,7%
Spread / Lowest Target -83,7%
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Managers
NameTitle
Sebastian Piotr Mikosz Chief Executive Officer, Group MD & Director
Michael Joseph Non-Executive Chairman
Jan de Vegt Chief Operating Officer
Hellen Mathuka Chief Financial Officer
Kevin Kinyanjui Director-Information Systems
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