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Wednesday, April 8, 2020

Qatar Airways purchase 49% stake in RwandAir

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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.

 

 

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