Steer was appointed to assist in developing and evaluating turnaround strategies for Kenya Airways (KQ). The aim was to identify the least-cost option for the airlines largest shareholder (Government of Kenya). The airline has been insolvent since 2011.
Steer's responsibility was to advise the client on the different options for the airline's future, providing a reasoned and quantified analysis. The possibilities considered ranged from continuing business as usual to restructuring options to complete closure of the airline.
We reviewed the airline's current commercial, operational, and financial standing. Then, based on bespoke commercial and economic models we had developed, we projected its performance over the next few years, in both commercial and financial terms, under each option considered.
We developed recommendations for the preferred option based on impacts on the airline, government finances, and the Kenyan economy.
The airline management used our analysis and recommendations in its strategy and funding discussions with the National Treasury and international finance institutions. Our report provided an independent view to be considered alongside the proposals put forward by airline management to its funders.
Yes, you are in the right place. After 40 years, we have changed our name from Steer Davies Gleave to mark our growing international footprint and our expanding portfolio into sectors beyond transport.
Explore our new website to learn more about Steer: who we are, how we work and what our future holds.
