Qatar airways announced a 49% stake in RwandAir after taking a 60% stake in Kigali’s new airport in December.
The partnership will give RwandAir, which has reported close to $50m in losses each year since its creation, a solid technical and financial partner able to support its development and hub strategy.
Qatar Airways Chief Executive Akbar al-Baker has confirmed the purchase saying “It will be a very efficient hub in a very stable country in the heart of Africa. We see Africa as another region that has huge growth potential,” al-Baker said.
Last year, Qatar Airways and the Rwandan government signed an investment partnership whereby the Middle Eastern carrier agreed to take a 60% stake in the new Bugesera airport (east of Kigali), a project worth nearly $1.3bn and initially scheduled for completion in 2020.