Kenya Airways (KQ) has been in the red for the past two years having made tens of billions in losses.
This year, KQ posted a Sh26.2 billion net loss allegedly impacted by Sh9.7 billion foreign exchange losses.
In 2015, the loss was a billion shillings less meaning it increased marginally in 2016.
The losses were also attributed to increased cost of borrowing in the period under review incurring an additional Sh2.3 billion in interest expense.
But KQ’s woes go further than that with incompetence, corruption and siphoning resources at the national carrier being the norm.
Former Prime Minister and opposition leader Raila Odinga who has been accused of playing a part in bringing KQ down has denied any wrongdoing in the winding up of the Kenya Airways cargo handling business.
He says that he only held one share out of every 1,000 in "competitive cargo business when the Kenya Airways business was wound up.
Raila has denied that Astral Aviation Ltd which is linked to him had no influence in the management’s decision to close the business.
“Any benefit that may have befallen on the Astral Aviation Ltd resulting from the winding up the Kenya Airways cargo was not exclusive to it but enjoyed by all other companies carrying out airfreight cargo handling business in Kenya," Raila was quoted by the Standard on Monday.
The opposition chief who prides himself as a fighter for justice threatened to sue The Standard Group for defamation over a "malicious" report linking him to the sale of Kenya Airways' cargo business.
He demanded an apology within seven days failure to which he would sue the media house for the October 1 story which he said lacked facts to trump sales.
For KQ, shareholders have approved to have former Safaricom Chief Executive Michael Joseph on the board.
Joseph will replace Vincent Rague who has retired.