Ivory Coast gets new airline

Air Cote d'Ivoire is 65% owned by the Ivory Coast government

Air France has signed an agreement with the Aga Khan Fund for Economic Development (AKFED) to set up a new airline in the Ivory Coast.

Air Cote d’Ivoire will become the West African country’s new national carrier, with the Ivory Coast government holding a 65% stake in the company. Air France will own 20% of the airline, while its regional partner Aérienne de Participation-Côte d’Ivoire – which is funded by Air France and AKFED – will hold the remaining 15%. The airline will have initial capital of XOF2.5 billion (US$4.8 million), rising to XOF25 billion.

General Abdoulaye Coulibaly, Chairman of the Steering Committee for the creation of the new airline, commented; “The President of the Republic His Excellency Dr Alassane Ouattara has informed me a few months ago that the Ivorian people are eagerly awaiting the setting up of this airline. It was born today.

“I am delighted and I think that thanks to Air Côte d’Ivoire, our country will regain its place as an airline in West Africa. I remain convinced that we have just created a viable and sustainable airline, and that especially at the outset, we will benefit from cooperation with Air Burkina and Air Mali from the AKFED Group, our partner.

“This project will transport passengers and goods in West and Central Africa and within the country and will develop technical, commercial and operational synergies with the airlines of the AKFED Group, Air Burkina and Air Mali,” he added.

Air Cote d’Ivoire now plans to launch regional routes in July followed by domestic routes by the end of 2012. It is reported that the airline will initially operate Airbus two A319 aircraft to regional destinations such as Senegal’s capital Dakar, the Congolese capital Brazzaville, and Cotonou in Benin. It will be based in the Ivory Coast’s largest city, Abidjan.

By Mark Elliott, 22 May 2012, Tuesday 4:31 AM