Auditors reveal turmoil in KQ built up over years

The CEO of PWC Ann Erickson swears by the Bible at Parliament Buildings when she led a group of her officers to appear before Senate Select Committee on Kenya Airways to discuss the Financial position of the airline. [PHOTO: MOSES OMUSULA/STANDARD]

There were strong indicators that the national carrier, Kenya Airways, was headed for a major financial crisis before it posted the historical Sh26 billion loss, auditors who were looking into the company's financial accounts have disclosed.

Auditors from PricewaterhouseCoopers (PwC), who were the company's auditors for four years since the 2010-2011 financial year and their predecessors Deloitte and Touche, yesterday told the Senate committee looking into the airline's woes that there were signs the company was heading towards serious financial turbulence.