Wednesday, November 13, 2013

Kenya Airways CEO Titus Naikuni to step down - has succeeded in returning carrier to profitability

Titus Naikuni - CEO of Kenya Airways Ltd. PHOTO/File

(Bloomberg) - Kenya Airways Ltd. Chief Executive Officer Titus Naikuni will be stepping down after restoring sub-Saharan Africa’s No. 3 carrier to profit with cost cuts that outweighed the impact of the Westgate mall siege and a fire at its hub.

The Nairobi-based airline posted net income of 384 million shillings (US$4.4 million) in the 6 months to September 30, versus a year-earlier loss of 4.79 billion shillings (US$55 million),

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