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

Rolls-Royce tests tech set to power world's fastest all-electric plane

Rolls-Royce has completed testing of the ground-breaking technology that will power the world’s fastest all-electric plane.

Emirates to resume flights to Jo'burg, Cape Town, Durban, Harare and Mauritius

Emirates today announced it will resume flights to Johannesburg (1st October), Cape Town (1st October), Durban (4th October) in South Africa; Harare in Zimbabwe (1st October) and Mauritius (3rd October).

Ethiopian Airlines to resume flights to Victoria Falls

Ethiopian Airlines Group today announced the resumption of its flight services to Victoria Falls - one of African’s most spectacular natural sites - from 6th October 2020.

African airports to receive security trays from Edinburgh Airport

More than 200 security trays will be redistributed from Edinburgh Airport in Scotland to airports in Africa, to help staff train for security inspections.

Ethiopian Airlines to resume flights to Johannesburg and Cape Town

Ethiopian Airlines have confirmed it will resume flights to Johannesburg and Cape Town, South Africa as of 01 October 2020.

Air Namibia in government bailout talks

Air Namibia has said it is negotiating a state bailout after it reportedly requires USD11.6 million to restart the airline due to the Covid-19 pandemic.

Aviation Africa 2021
See us at
Aviation Africa 2021SIAA2020 BT1020Aviation MENA 2021