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97-520: Kenya Airways Ltd. , more commonly known as Kenya Airways , is the flag carrier airline of Kenya . The company was founded in 1977, after the dissolution of East African Airways . Its head office is located in Embakasi , Nairobi , with its hub at Jomo Kenyatta International Airport . The airline was owned by the Government of Kenya until April 1995, and it was privatised in 1996, becoming
194-410: A national airline or a national carrier , although this can have different legal meanings in some countries. Today, it is any international airline with a strong connection to its home country or that represents its home country internationally, regardless of whether it is government-owned. Flag carriers may also be known as such due to laws requiring aircraft or ships to display the state flag of
291-600: A $ 1 billion restructuring in 2021 to help it recover from the COVID-19 pandemic . Upon announcing major losses in 2022, the carrier announced plans to cut ties with the Kenyan government by the end of 2023. In 2024, Kenya Airways has demonstrated a strong performance turnaround, marking its first profit since 2013, a significant milestone driven by its Project Kifaru strategy. This plan emphasizes operational excellence, financial discipline, and an enhanced customer experience. For
388-487: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler
485-757: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on
582-565: A dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of
679-575: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized
776-525: A plan to restore profitability was disclosed in a March 2018 interview given by the CEO and the chairman of the company. The turnaround operation will include route expansion, pursuing the high-end segment of the market, on partnerships and joint ventures with other airlines. The carrier plans to add up to twenty new destinations in Africa, Europe and Asia in the next five years. Five sub-leased aircraft are to re-join
873-823: A revenue increase of 22% to Ksh91 billion, The airline’s capacity, measured in Available Seat Kilometers (ASKs),increased by 16% to 7.991 billion ASKs, while Revenue Passenger Kilometers (RPKs) improved by14%.though cost management remains a challenge as operating expenses rose alongside growth in service capacity. The key trends for the Kenya Airways group over recent years are shown below (to 31 March until 2017; periods ending 31 December thereafter): Low-cost carrier Jambojet , created in 2013, and African Cargo Handling Limited are both wholly owned subsidiaries of Kenya Airways. Partly owned companies include Kenya Airfreight Handling Limited, dedicated to
970-678: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since
1067-468: A shareholding scheme, and others own the remaining 5.2%. The Government of Kenya issued a guarantee for a further US$ 525 million debt owed to Import-Export Bank of the United States, financier of the newer Boeing planes of its fleet. In a bid to recover their exposure, syndicated leaseholders and banks unsuccessfully fought these measures to restructure the carrier's ownership. An outline of
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#17327727398031164-421: A tangible impact on our operational costs, reducing fuel expenses and decreasing the environmental footprint of our ground operations," said George Kamal. These initiatives demonstrate Kenya Airways' dual commitment to sustainability and financial prudence. As Kamal emphasized, "We are not just cutting costs for short-term gains; we are building a more resilient and sustainable future for Kenya Airways." Furthermore,
1261-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set
1358-429: Is a transport company, such as an airline or shipping company, that, being locally registered in a given sovereign state , enjoys preferential rights or privileges accorded by the government for international operations. Historically, the term was used to refer to airlines owned by the government of their home country and associated with the national identity of that country. Such an airline may also be known as
1455-543: Is called Msafiri , and is distributed among the passengers in all aircraft, irrespective of the class. Premier World entertainment is AVOD ; NVOD is offered in Economy class . Overhead screens in both classes, plus eight channels of audio offered. Individual in-seat touchscreens . Kenya Airways has had two fatal accidents and two hull-loss accidents. [REDACTED] Media related to Kenya Airways at Wikimedia Commons Flag carrier A flag carrier
1552-652: Is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023, the Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of
1649-460: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of
1746-603: Is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in a few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which
1843-458: The Bermuda I and Bermuda II agreements specify rights awardable only to locally registered airlines, forcing some governments to jump-start airlines to avoid being disadvantaged in the face of foreign competition. Some countries also establish flag carriers such as Israel 's El Al or Lebanon 's Middle East Airlines for nationalist reasons or to aid the country's economy, particularly in
1940-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following
2037-551: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968
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#17327727398032134-545: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of
2231-891: The Dar es Salaam Stock Exchange , and the Uganda Securities Exchange . The airline became a member of SkyTeam in June 2010 and is also a member of the African Airlines Association since 1977. Kenya Airways was established by the Kenyan government on 22 January 1977, following the break-up of the East African Community and the consequent demise of East African Airways (EAA). On 4 February 1977, two Boeing 707-321s leased from British Midland Airways inaugurated operations, serving
2328-526: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for
2425-562: The European Union with the signing of the Open Skies agreement. One of the features of such agreements is the right of a country to designate multiple airlines to serve international routes with the result that there is no single "flag carrier". The chart below lists airlines considered to be a "flag carrier", based on current or former state ownership or other verifiable designation as a national airline. Minority (20.05%) in
2522-553: The International Finance Corporation was appointed to assist in the privatisation process, which effectively began in 1995. A large aviation industry partner was sought to acquire 40% of the shares, with another 40% reserved for private investors and the government keeping the remaining stake. The government would absorb almost US$ 90 million in debts and would convert another US$ 31 million it provided in loans into equity; after reorganisation,
2619-579: The Lufthansa Group acquired in 2020 was sold in 2022. United States dollar The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as the dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced
2716-670: The U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in the section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of
2813-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on
2910-401: The unit of account of the United States. "Dollar" is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as
3007-570: The Flying Blue programme are offered the JV Lounge . This service is provided to Kenya Airways passengers, and to passengers flying with its partner airlines as well. Simba Lounge is a service provided to Kenya Airways Business passengers only. Both lounges are located at Jomo Kenyatta International Airport . Different in-flight entertainment is available depending upon the aircraft and the class travelled. The airline's in-flight magazine
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3104-691: The Kenya– Europe corridor, and permitted Kenya Airways to return the A310-200 to the lessor. In early 1988, the carrier ordered two Fokker 50s ; for domestic routes, the airline received the first of these aircraft at the end of the year. Also in 1988, the lease of a third A310-300 was arranged with the International Lease Finance for a ten-year period; the aircraft joined the fleet in November 1989. Leased from Ansett Worldwide ,
3201-612: The Nairobi–Frankfurt–London route. On internal and regional flights, the carrier deployed aircraft formerly operated by the EAA consortium, such as one Douglas DC-9-52 and three Fokker F-27-200s . In late 1977, three Boeing 707s were acquired from Northwest Orient . The following year, the company formed a charter subsidiary named Kenya Flamingo Airlines, which leased aircraft from the parent airline in order to operate international passenger and cargo services. Aer Lingus provided
3298-540: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to
3395-854: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in
3492-555: The U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked
3589-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as
3686-530: The United States dollar . Article I, Section 9 of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as
3783-680: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,
3880-543: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be
3977-930: The aircraft was deployed on revenue service in February 2024. The company has previously operated the following aircraft: In 2005, Kenya Airways changed its livery . The four stripes running all through the length of the fuselage were replaced by the company slogan Pride of Africa , whereas the KA tail logo was replaced by a styled K encircled with a Q to evoke the airline's IATA airline k Kenya Airways (KQ) has launched three key sustainability initiatives under its strategic recovery plan, Project Kifaru, aimed at ensuring long-term business viability and environmental responsibility. These include: These projects align with KQ's goals of reducing its environmental footprint, improving operational efficiency, and fostering community development through job creation. CEO Allan Kilavuka emphasized
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4074-510: The airline announced plans to retire all non-Boeing aircraft and become an all-Boeing airline. On 20 December 2023, Kenya Airways announced that they had secured an agreement with HiFly Malta for an additional aircraft to enhance operational capacity and flexibility for the peak travel season, being delivered on 20 December, and completing its first flight for the airline a day later, operating KQ310, from Nairobi to Dubai. The airline took delivery of its first Boeing 737-800 SF in November 2023;
4171-588: The airline would be better off privately owned, thus resulting in the first privatisation attempt. The government named Philip Ndegwa as chairman of the board in 1991, with specific orders to make the airline a privately owned company. In 1992, the Public Enterprise Reform paper was published, giving Kenya Airways priority among national companies in Kenya to be privatised. Ndegwa was succeeded by Isaac Omolo Okero. In September 1992, Brian Davies
4268-520: The airline's commitment to sustainability, customer focus, and Africa's prosperity through responsible corporate practices. Kenya Airways’ Water Bottling Plant, with a daily capacity of 4,500 liters, will "reduce reliance on external suppliers and significantly lower water procurement costs while generating additional revenue through potential water sales." Similarly, the Pyro-Diesel Plant, producing 700–1,000 liters of diesel daily, "will make
4365-461: The airline's international destinations, whereas domestic routes radiated from Nairobi to Kisumu , Malindi , Mombasa and Mumias . A Nairobi–Bombay nonstop route was launched in 1982 using Boeing 707-320Bs. A year later, the company commenced serving Tanzania while flights to Burundi , Malawi and Rwanda were launched in 1984. Capacity on the European routes was boosted in November 1985 with
4462-420: The apportionment of aviation rights to local or international markets. Near the end of the 20th century, many of these airlines have been corporatized as a public company or a state-owned enterprise , while others have been completely privatized . The aviation industry has also been gradually deregulated and liberalized, permitting greater freedoms of the air particularly in the United States and in
4559-449: The area of tourism. In many cases, governments would directly assist in the growth of their flag carriers typically through subsidies and other fiscal incentives. The establishment of competitors in the form of other locally registered airlines may be prohibited or heavily regulated to avoid direct competition. Even where privately run airlines may be allowed to be established, the flag carriers may still be accorded priority, especially in
4656-521: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains
4753-500: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,
4850-418: The biggest lender, saw its holdings rise from 29.8% to 48.9% while that of KLM was diluted from 26.7% down to 7.8%. A consortium of local banks, through a special-purpose vehicle called: "KQ Lenders Company 2017 Ltd.", ended up with 38.1%. The latter entity is obligated with a loan from the above local banks for US$ 225 million; this amount, in turn, is guaranteed by the government. The airline's employees, through
4947-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for
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#17327727398035044-526: The cargo handling of perishable goods (51%-owned) and Tanzanian carrier Precision Air (41.23%-owned). As of October 2016, Michael Joseph is the airline 's chairman . Joseph is the former chief executive officer (CEO) of Safaricom , the leading telecom operator in Kenya . As of August 2023, Allan Kilavuka held both the Group Managing Director and CEO position. Kilavuka
5141-453: The company with technical and management support in the early years. In July 1980, the airline had 2100 employees and a fleet of three Boeing 707-320Bs , one Boeing 720B , one DC-9-30 and three Fokker F-27-200s . At this time, Addis Ababa , Athens , Bombay , Cairo , Copenhagen , Frankfurt , Jeddah , Kampala , Karachi , Khartoum , London , Lusaka , Mauritius , Mogadishu , Rome , Salisbury , Seychelles and Zürich were among
5238-448: The company would have a debt of approximately US$ 78 million. British Airways, KLM, Lufthansa and South African Airways were among the airlines expressing interest in taking a stake in Kenya Airways. KLM was awarded the privatisation of the company, which restructured its debts and made a master corporation agreement with KLM, which bought 26% of the shares, becoming the largest single shareholder since then. Shares were floated to
5335-520: The country of their registry . For example, under the law of the United States, a U.S. flag air carrier is any airline that holds a certificate under Section 401 of the Federal Aviation Act of 1958 (i.e., any U.S.-based airline operating internationally), and any ship registered in the United States is known as a U.S. flag vessel . The term "flag carrier" is a legacy of the early days of commercial aviation when governments often took
5432-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were
5529-400: The deal that hurt KQ - IATA code for Kenya Airways. Two Boeing B737-700 were sold and five newer, leased airliners were sub-leased to improve cash flow. Efforts to financially re-position the carrier were successful at the end of 2017. In a complex deal, stakeholders agreed to convert close to half a billion US dollars in equity loans, changing the ownership structure. The government of Kenya,
5626-632: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though
5723-668: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during
5820-490: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since
5917-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from
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#17327727398036014-400: The dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after the First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar
6111-554: The first African flag carrier to successfully do so. Kenya Airways is currently a public-private partnership. The largest shareholder is the Government of Kenya (48.9%), with 38.1% being owned by KQ Lenders Company 2017 Ltd (in turn owned by a consortium of banks), followed by KLM , which has a 7.8% stake in the company. Private owners hold the rest of the shares; shares are traded on the Nairobi Stock Exchange ,
6208-510: The first Boeing 757-200 was received in January 1990, whereas a third Fokker 50 was acquired in October the same year. By late 1991, two Boeing 737-200s had been leased from Guinness Peat Aviation . In 1986, Sessional Paper Number 1 was published by the Government of Kenya, outlining the country's need for economic development and growth. The document stressed the government's opinion that
6305-516: The first Boeing 787 took place on 4 April 2014. Two days later, Nairobi–Paris became the first route to be served by the Boeing 787. Kenya Airways phased out its Boeing 777s in May 2015 after the airline made losses and incurred debts in the previous financial year. The Boeing 777-300ER fleet was leased to Turkish Airlines in May 2016. In 2022, the airline announced a plan to downsize its fleet. In 2023,
6402-451: The first half of the year ending June 2024, the airline reported a net profit of Ksh513 million, a major improvement from the Ksh21.7 billion loss reported during the same period last year The airline’s profit after tax saw a remarkable 102% improvement, highlighting the success of the ongoing recovery strategy.. Passenger numbers grew by 10% to 2.54 million, with an expanded capacity leading to
6499-404: The first official SkyTeam Associate Airline and achieved full membership in June 2010. The alliance provides Kenya Airways' passengers with access to the member airlines' worldwide network and passenger facilities. Kenya Airways has codeshare agreements with the following airlines: As of June 2024, Kenya Airways operates the following aircraft: The first of four converted Boeing 737-300s
6596-619: The fleet by the end of 2019 to facilitate this move. Preparations are underway to roll out an economy-plus class to target the business and high-end leisure travellers. Direct flights to luxury tourism destinations in the Indian Ocean are also planned. Talks are underway with South African Airways regarding route-sharing and aircraft-maintenance collaboration; this is the other focus of the turnaround scheme. In December 2018 Kenya Airways revealed plans to start flights between Nairobi and Windhoek, Namibia. The airline announced plans to undergo
6693-502: The incorporation of an Airbus A310-200 leased from Condor . Kilimanjaro was first served in March 1986. That year, the airline ordered two Airbus A310-300s . Kenya Airways was the first African carrier to acquire the type and was the first wide-bodies ordered by the company. Funded with a US$ 20,000,000 (equivalent to $ 55,591,985 in 2023) loan, the delivery of these two aircraft took place in May and September 1986. They flew on
6790-533: The issuance of rights worth KSh. 20 billion/=, aimed at increasing capital to support expansion plans. Following the allocation of shares, KLM increased their stake in the company from 26% to 26.73%, while the Kenyan government boosted their participation into the company from 23% to 29.8%, becoming the largest shareholder. In April 2012, the airline launched a plan named Project Mawingu (the Swahili word meaning Clouds ) to add 24 destinations by 2021, including
6887-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre
6984-642: The lead by establishing state-owned airlines because of the high capital costs of running them. However, not all such airlines were government-owned; Pan Am , TWA , Cathay Pacific , Union de Transports Aériens , Canadian Pacific Air Lines and Olympic Airlines were all privately owned, but were considered to be flag carriers as they were the "main national airline" and often a sign of their country's presence abroad. The heavily regulated aviation industry also meant aviation rights are often negotiated between governments, denying airlines access to an open market. These Bilateral Air Transport Agreements similar to
7081-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for
7178-517: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation
7275-561: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,
7372-446: The public in March 1996, and the airline started trading in the Nairobi Stock Exchange . The Government of Kenya kept a 23% stake in the company, and offered the remaining 51% to the public; however, non-Kenyan shareholders could hold a maximum 49% share of the airline. Despite 40% of the shares being kept by foreign investors following privatisation (including KLM 's 26% stake), top management positions were held by Kenyans. Following
7469-465: The public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike the Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of
7566-487: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,
7663-514: The same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in
7760-680: The same year, the fleet consisted of four Airbus A310-300s, two Boeing 737-200 Advanced and four Boeing 737-300s . At this time the company had a staff of 2,780, including 400 engineers, 146 flight crew and 365 cabin crew. From its main hub at Jomo Kenyatta International Airport, scheduled services were operated to Abidjan, Addis Ababa, Amsterdam , Bujumbura , Cairo, Copenhagen, Dar es Salaam , Douala , Dubai , Eldoret , Entebbe /Kampala, Harare , Johannesburg , Karachi, Khartoum, Kigali , Kinshasa , Lagos , Lilongwe , Lokichoggio , London, Lusaka, Mahe Island , Malindi , Mombasa, Mumbai , and Zanzibar . In 2002, an order for three Boeing 777-200ERs
7857-469: The scaling up of these plants is expected to "create additional employment opportunities," underscoring the airline's dedication to community development and environmental responsibility. Former Kenya Airways' frequent flyer programme Msafiri was merged with KLM 's Flying Dutchman in 1997, which was in turn merged with that of Air France and rebranded as Flying Blue in 2005, following the fusion of both companies. Gold Elite and Platinum Elite members of
7954-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to
8051-477: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to
8148-478: The start of services to Australia and North and South America , and expanding its presence in Asia as well. In October 2013, the airline stated that it will add six new destinations every year, following the delivery of Boeing 777s and 787s the carrier has on order. Operational results for fiscal years 2015 and 2016 showed substantial losses. The rapid expansion of the fleet and routes (dubbed "Project Mawingu")
8245-536: The takeover, the government of Kenya capitalised US$ 70 million, while the airline was awarded a US$ 15 million loan from the International Finance Corporation to modernise its fleet. In a deal worth US$ 82 million, two Boeing 737-300s were ordered in July 1996. In January 2000, the airline experienced its first fatal accident when an Airbus A310 that had been bought new in 1986 crashed off Ivory Coast , shortly after taking off from Abidjan . By April
8342-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for
8439-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by
8536-488: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of
8633-602: Was appointed as Kenya Airways Group's acting CEO in December 2019, succeeding Sebastian Mikosz, who resigned amid nationalisation plans for the airline. Mikosz, formerly CEO of LOT Polish Airlines , had taken office as Kenya Airways Group's managing director and CEO on 1 June 2017. Kilavuka was later confirmed in the substantive role. Kenya Airways serves 44 destinations with 61 different routes, as of August 2023. KLM sponsored Kenya Airways' SkyTeam candidacy process in mid-2005. In September 2007, Kenya Airways became one of
8730-405: Was appointed as the new managing director of the company. Davies had been previously hired to carry out a study of viability on privatisation, working for British Airways ' Speedwing consulting arm. Swissair was the first company to provide Kenya Airways with privatisation advice. In the fiscal year 1993 to 1994, the airline produced its first profit since the start of commercialisation. In 1994,
8827-418: Was cited as the primary cause of the downturn. Fuel-price hedging and the 1996 agreement with KLM , considered intrusive in the running of the flag carrier, took secondary blame. Corrective measures were taken to improve the financial and operational position of the airline and avert insolvency. The route partnership with KLM was deemed profitable thus, kept. However, the parties agreed to amend some features of
8924-532: Was delivered to the company in April 2013; Kenya Airways planned to fly this aircraft on African routes served by the Embraer 190s, to boost cargo capacity. The company took delivery of its first Boeing 777-300ER in October 2013. Kenya Airways had nine Boeing 787 Dreamliners on order as of April 2011, although the company considered cancelling the order after systematic delays with the delivery dates. The handover of
9021-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on
9118-465: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though
9215-748: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in
9312-408: Was placed with Boeing; an additional aircraft of the type was acquired in November 2005. In March 2006, six Boeing 787-8s were ordered; the first two examples would be delivered in 2010 and the rest in 2011. The original Boeing 787 order was amended nine months later to include three more aircraft of the type. The first Embraer 190 joined the fleet in December 2010. In June 2012 the company announced
9409-662: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before
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