in Business & Finance

Air Burkina back in hands of Burkinabe government; seeks partner

Posted 12 April 2017 · Add Comment

The Aga Khan Fund for Economic Development (AKFED) has divested itself of its 51% stake in Air Burkina selling it to the Burkinabe government, reports ch-aviation.

 

The Burkinabe government had, in the six months prior, undertaken an audit of the airline's financial situation which it is now studying. It will then weigh up its options before actively looking for a strategic buyer. There is still a question around whether AKFED will retain Air Burkina's fleet, or if it will revert to the airline.

Air Burkina was purchased by AKFED in 2001, which attained 56% of its shares in the transaction. It employs around 230 people and operates two EMB-170 aircraft leased from an American bank through WNG Capital. Currently, Air Burkina flies to domestic destinations within Burkina Faso, as well as international routes to Ivory Coast, Ghana, Mali, Benin, Senegal, Togo and Niger. 

The transaction has not yet been confirmed by either AKFED, Air Burkina or the Burkinabe government.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Honeywell helps aircraft operators comply with upcoming mandates

Honeywell has met the performance standard for transponders required by the European Aviation Safety Agency to make air traffic management safer and more efficient.

Air Peace to add ERJ-145s

Nigeria's Air Peace will add an undisclosed number of ERJ-145s to its current fleet of four B737-300s, five B737-500s, and one Do328-300, reports ch-aviation.

Air Senegal orders two ATR72-600s

Air Senegal has ordered two ATR72-600s from Avions de Transport Régional as it prepares to commence operations later this year, reports ch-aviation.

CemAir signs LOI for two Q400s

CemAir has signed a Letter of Intent (LOI) with Bombardier for two Dash 8-400/Q400s, reports ch-aviation.

AAR signs extended PBH contract with Air Austral

AAR has secured an extension of its contract supporting Air Austral's fleet of B737NG aircraft, which began in 2009.

PARIS AIRSHOW: Ethiopian wins Best Airline in Africa at Skytrax awards

Ethiopian Airlines won Skytrax World Airline Award for The Best Airlines in Africa at the Paris Air Show this week.

Aviation Africa SK18418
See us at
Global Aerospace BT28218GroundHandling BT0303280917Aviation Africa BT18418