Sharp Daily
No Result
View All Result
Friday, August 8, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Tug Of War At KQ As Kivaluka, Michael Joseph Refuse To Step Down

Editor SharpDaily by Editor SharpDaily
November 1, 2022
in News
Reading Time: 2 mins read
Michael Joseph

Michael Joseph. [Photo/ Courtesy]

Kenya Airways (KQ) CEO Allan Kivaluka and chairman Michael Joseph have refused to resign as demanded by pilots, deepening the woes facing the national carrier.

This comes moments after the High Court stopped the Kenya Airline Pilots Association (KALPA) from going on strike, who are demanding that the two resign due to mismanagement.

“They have called for Allan [the CEO] and myself to resign and the board to step down but there is no clear justification for this other than a general statement about mismanagement and poor decisions without any details,” said Mr Joseph in a letter to staff Monday.

“The board and I believe our shareholders have absolute confidence in Allan and his management team. No amount of threats or coercions will compel us to ask for any resignation from anyone, and certainly, I have no intentions of stepping down unless the KQ board, following due process, requests my resignation,” he said.

RELATEDPOSTS

Direct Nairobi-Gatwick flights announced by Kenya Airways for July 2025

December 11, 2024
photo/courtesy

Kenya Airways resumes flights to Eldoret

March 20, 2024

Read: Inside The Turbulent Recovery Of Kenya Airways

KALPA had planned to go on strike over several issues including mismanagement, failure by the management to implement pay agreements (CBA), alleged victimisation of its members and non-payment of monthly pension contributions for staff.

KQ needs at least Ksh1.3 billion for pension expenses every year, with approximately Ksh700 million being scheduled for pilots.

“As you know, we continue to pay back the deferred salaries and expect to start paying back the contributions to the provident fund in 2023. Unfortunately, we cannot do both at the same time as we are still paying back our outstanding arrears from the Covid period and keeping up lease payments on our aircraft,” said Mr Joseph.

KQ has recorded a Ksh9.88 billion loss for the first half of the year, which was less than the loss of Ksh11.48 billion it posted for the same period in 2021.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

CS Aisha Jumwa Announces Plans To Increase Salaries For Civil Servants

Next Post

The Government To Take Up Ksh63.7 Billion Loan From KQ

Editor SharpDaily

Editor SharpDaily

The latest in business, real estate, education, investments, tech and entrepreneurship, brought to you daily. Reach us through thesharpdaily@gmail.com

Related Posts

commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025

LATEST STORIES

Segregated Pension Schemes in Kenya Q2’2025 Performance

August 8, 2025
Asset allocation dividing an investment portfolio among different asset categories.

Building a Retirement Portfolio in Kenya

August 8, 2025

Steps banks can take to align with fair lending practices

August 7, 2025

The hidden cost of outdated economic statistics

August 7, 2025

EABL posts 12.2% profit surge, strengthens regional footprint despite rising illicit trade

August 1, 2025
1049795356

Maximizing Your Pension Contributions

August 1, 2025

The functional role of narrative in financial markets

August 1, 2025

Tanzania’s protectionist shift and what it means for Kenyan entrepreneurs and regional trade

July 31, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024