Kenya Airways shares rise on reports executives to go soon

Kenya Airways shares rise on reports executives to go soon

Shares in loss-making Kenya Airways climbed as much as 3 percent on Friday, with analysts citing reports that the chief executive and chairman could be soon be replaced, meeting a key demand of pilots who have threatened strike action.

Kenyan broadcaster Citizen reported on its website that Chief Executive Officer Mbuvi Ngunze and Chairman Dennis Awori would exit by the end of the month, without giving a source.

“They are laying out plans to replace the senior management, that includes the CEO, this is based on reports that I am reading,” Daniel Kuyoh, analyst at Alpha Africa Asset Managers, told Reuters when asked about the reason for the share rise. Others analysts and traders echoed the comments.

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Kenya Airways shares Mbuvi Ngunze Denis Awori Nairobi Securties Exchange

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