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

IATA Regional Aviation Forum opens in Nairobi

The IATA Regional Aviation Forum in Nairobi was officially opened this morning by Aaron Munetsi, director of government and international affairs – AFRAA.

IATA Forum: The importance of air transport in Kenya

The International Air Transport Association (IATA) presented its latest study on the economic value of air transport and tourism to Kenya at the IATA Regional Aviation Forum in Nairobi and identified opportunities for significant

EgyptAir in codeshare with United Airlines

EgyptAir has entered a codeshare agreement with United Airlines.

Desert dust’s open season on engines

Maintenance trends in Africa map the prevailing weather conditions. During the Harmattan season, for example, MROs usually notice a spike in engine-related events.

Ethiopian launches ‘Feel Addis’ app

Passengers flying Ethiopian with layover between 8 and 24 hours in Addis Ababa are set to have their end-to-end layover experience transformed in a whole new way with the launch of the airline’s digitised transit package dubbed Feel

Benefits from pan-African outlook

African aviation is prone to frequent change, according to AJW group sales director, Hafsah Abdulsalam.

Aviationgate SK1007101019
See us at
AVAFA20BT2207050320MEBAA BT2006260919Dubai AS BT2006211119AVMENA20 BT1309100620