  Dynamical spin susceptibility is calculated for the generalized ferromagnetic
Kondo model which describes itinerant $e_{g}$ electrons interacting with
localized $t_{2g}$ electrons with antiferromagnetic coupling. The calculations
done in the mean field approximation show that the spin-wave spectrum of the
system in ferromagnetic state has two branches, acoustic and optic ones.
Self-energy corrections to the spectrum are considered and the acoustic
spin-wave damping is evaluated.
