Ecobank lends Cameroon State airline $50million to stay afloat
A Reuters news wire reports Cameroon state airline Camair-Co will use $50 million from African lender Ecobank to relaunch its operation The article says national carriers in West Africa are seeking cash and strategic partners to stay afloat. Camair-Co general manager Jean Paul Nana Sandjo said it expected to receive the 30 billion CFA francs within […]
A Reuters news wire reports Cameroon state airline Camair-Co will use $50 million from African lender Ecobank to relaunch its operation
The article says national carriers in West Africa are seeking cash and strategic partners to stay afloat.
Camair-Co general manager Jean Paul Nana Sandjo said it expected to receive the 30 billion CFA francs within two to three weeks.
The money will be used to buy new planes and improve maintenance procedures.
“We will roll out our recovery plan which includes acquiring six aircraft to add to two new (Chinese-made) MA60s,” Sandjo told the state newspaper on Wednesday. “That will bring Camair-Co’s fleet to 11 planes by July or August.”
Sandjo said maintenance on the company’s fleet had to be carried out in Europe, which was costly and time consuming, causing the cancellation of flights. The company has a staff of 700 for its three aircraft, he told the newspaper.
Follow Us on Google Discover
Follow Us on Google Discover
Warning: Undefined variable $post_id in /var/www/nairametrics/wp-content/themes/nairametrics/comments.php on line 134
Warning: Undefined variable $post_id in /var/www/nairametrics/wp-content/themes/nairametrics/comments.php on line 134