KQ execs takes a pay cut
02 August 2013, 11:31
Nairobi - Following a tough two years that saw it swing to the biggest loss ever in the history of companies listed on the Nairobi bourse, Kenya Airways' top executives are taking a pay cut.
Details in the national carrier’s annual report show that the annual pay of executive directors dropped to KES 77 million in the year to March from KES 82 million a year earlier, as the company tries to recover from losses made, Business Daily reports.
Analysts have attributed the pay drop to performance-related compensation and tied it to KQ’s earnings for the year ended March 2012 when the carrier’s profit dropped 51.4 per cent to KES 1.66 billion.
- For more visit Business Daily
Join in the conversation on our Facebook page. Also get the latest news by following us on Twitter.