Kenya Airways’ chairman Michael Joseph has said that chief executive Mbuvi Ngunze is part of his turnaround strategy for the airline and is therefore not exiting just yet as demanded by the airline’s pilots.
Mr Mbuvi is overseeing the renegotiating of loan terms with the airline’s lenders as part of a balance sheet restructuring (and later capital raising) and as such cannot be asked to leave the company, Mr Joseph has said.
“He is crucial to me at the moment and I have told the pilots as much,” Mr Joseph said during a press conference to discuss his strategy as the airline’s new chairman.
“Mr Ngunze (right) is in the middle of renegotiating with our financiers to get better terms in order for us to get out of the financial hole we are in.
He is critical in that process since he knows and understands these people.”
The Kenya Airline Pilot Association (Kalpa) had planned to strike on October 18 to push for the resignation of the airline’s CEO and former chairman Ambassador Dennis Awori whom they accused of mismanaging the airline.
The association, which is made up of about 450 pilots, on Thursday called off the strike notice, which they had deferred, a week after Mr Awori was replaced by Mr Joseph.