The Sh10.4 billion net loss suffered by Kenya Airways (KQ) over the past six months may have caught Kenyans unaware, but did not come as a surprise to savvy financial analysts. Although the amount lost may have broken the previous corporate Kenya ceiling, the announcement of the continued and bigger losses by an in-coming Chief Executive Mbuvi Ngunze in a company in the middle of a debt cycle have a long history locally and internationally.