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Ex-finance chief reveals origins of KQ’s decline

Former Kenya Airways finance director Alex Mbugua (left) and ex-CEO Mbuvi Ngunze. PHOTOS | FILE | NMG
Former Kenya Airways finance director Alex Mbugua (left) and ex-CEO Mbuvi Ngunze. PHOTOS | FILE | NMG 

Former Kenya Airways #ticker:KQ finance director Alex Mbugua has written a protest letter to the airline’s chairman, Michael Joseph, detailing what he claims are the series of scandals that brought the company to its knees.

Mr Mbugua, in a letter dated August 28, 2017, accuses former Kenya Airways chief executive Mbuvi Ngunze of corruption and backstabbing while also roping in former chairman Dennis Awori in the decision to fire him from the top job.

Mr Mbugua says heavy discounting of ticket prices with the backing of top executives alongside other fare abuses were to blame for KQ’s heavy revenue losses estimated at Sh50 billion.

The former finance chief, who left the company in a huff three years ago, says he is the one who initiated the forensic audit that Mr Ngunze and Mr Awori are bent on using to have him prosecuted.

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