Burkina Faso seeks buyer for Air Burkina

Air Burkina Embraer 170
The Burkinabe government has begun its search for a new buyer for recently nationalized carrier Air Burkina, reports ch-aviation.

The Aga Khan Foundation sold its 51% shareholding to the government for a symbolic 1 CFA franc as part of its strategy to reduce its exposure to the volatile African aviation industry.
According to the Voice of America, Burkina Faso's president Roch Kaboré has confirmed he has already reached out to Qatar Airways "to see how far cooperation can be achieved by the end of the year."

Air Burkina SA is the national airline of Burkina Faso, operating scheduled services to one domestic destination, Bobo-Dioulasso, as well as regional services to Togo, Benin, Mali, Niger, Côte d'Ivoire, Senegal and Ghana. It is majority owned by an AKFED/IPS consortium, and operates from its main base at Ouagadougou Airport.

Over the years, the airline has had serious debt problems, reaching a deficit of one billion CFA francs in 1992 (approx. €1,500,000). In part to address its debt problem, the Burkina Faso government privatised Air Burkina on 21 February 2001, transferring 56% of the shares to the AKFED/IPS consortium, part of the Aga Khan Development Network). At that time, the government retained 14% of shares.In 2001, following Air Burkina's privatisation and the liquidation of Air Afrique, the airline's debt had largely been alleviated and it was predicting an annual revenue of around 3.5 billion CFA francs (more than €5,000,000).

Press reports in August 2013 said that the majority shareholder, AKFED & IPS, will be called in for talks by the Government after its most recent Council of Ministers meeting resolved to discuss the airline's current financial state. According to the Burkinabé Ministry of Infrastructure & Transport, a recent report presented to government outlining the current state of Air Burkina claims the Burkinabé national carrier "faces a difficult financial and economic situation."

Source: http://www.africanaerospace.aero/burkina-faso-seeks-buyer-for-air-burkina.html

Comments

Post a Comment

Popular posts from this blog

THE COFFEE ENTREPRENEUR WHO TRANSFORMS LIVES IN UGANDA: ANDREW RUGASIRA.

Looking at the article below on CNN about Andrew Rugasira "the Coffee entrepreneur who transforms lives in Uganda", it inspired me to think and reflect on the possibility for Africans and many developed countries to not only produce raw materials but transformation to finished products for global consumption. African countries should work hand in glove, helping each other through an extensive business web or network. I believe Africa as a continent has come of age and the time is ripe when our politicians should focus on increasing responsibility and eradicate preoccupations like corruption. (CNN) -- Tired of seeing developed nations take the lion's share of profits from his countrymen's coffee crop, Ugandan businessman Andrew Rugasira decided back in 2003 that it was time for a new business arrangement. Uganda is Africa's second-biggest exporter of coffee beans, currently producing around 3.4 million bags per year . Yet instead of being refined loc...
muxajax@blogger.com

hp - SPECTRE

Image
With no reference to the 007 sequel, I bring to you the the HP - SPECTRE. The latest release from HP sets the record straight as the world s thinnest laptop coming at 10.4mm, weighing just 2.45lbs  and a screen size of 13.3". The Specter ships in 2 product options below Price: $1,169.99 HP Spectre Laptop (13.3") Windows 10 Home 64 6th Generation Intel Core i5 processor 8 GB memory; 256 GB SSD storage 13.3" FHD display Intel® HD Graphics 520 Price: $1,249.99 HP Spectre Laptop (13.3") Windows 10 Home 64 6th Generation Intel Core i7 processor 8 GB memory; 256 GB SSD storage 13.3" FHD IPS UWVA display Intel® HD Graphics 520   (up to 4.09 GB) According to HP, we will be looking at each of the defining aspects using cutting edge technology that makes it standout from the rest in the business. Lets take a look under the hood. OS: Windows 10 Home 64 Body Style: This featherweight 13-inch di...
muxajax@blogger.com

BAA Training to provide ATR 42/72 type rating training for Tanzanian airlines

Image
BAA Logo BAA Training, European standard aviation training centre, has announced gaining an approval to provide ATR 42/72 FFS services for Tanzanian aviation companies. After successful audit by Tanzanian Civil Aviation Authority (TCAA), ATR 42/72 type rating training and full flight simulator dry or wet lease is allowed to be provided at the training center in Vienna, Austria. Inspectors of TCAA audited the headquarters of BAA Training and ATR 42/72 full flight simulator in Austria. The infrastructure and network of instructors were tested to ensure the service alignment with aviation training standards. Representatives of the TCAA did not have any complaints regarding the detailed inspection. “TCAA approval helps to support the further development of Tanzanian airlines and pilots by providing easier access to advanced aviation training. This will allow pilots to receive critical training in Europe with the network of highly trusted instructors, reliable and cost-effective...
muxajax@blogger.com