Public Management

Rwanda sets $152mln rescue plan for its national carrier

Rwanda sets $152mln rescue plan for its national carrier
Monday, 25 May 2020 13:22

The government of Rwanda announced on May 21 the disbursement of $152 million to support the national airline -Rwandair- in this pandemic.

Up by $17 million from the initial plan, this financing should enable the company to sustain its cash flow, which has sharply declined since the suspension of scheduled flights on 19 March due to travel restrictions.

The crisis has forced the company to take drastic measures, including reducing staff salaries and suspending some service contracts. In the meantime, Rwandair has started providing cargo services to London, Brussels, and Guangzhou to earn some revenue.

In a May 19 tweet, the airline announced a further extension of the suspension of its scheduled flights. This measure, which is aimed at limiting the spread of the coronavirus, will remain in force until further notice.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
DRC central bank to launch Bloomberg FXGO DRC platform Six-week beta underway before rollout within two months System aims to boost FX...
Bank records $10 million loss from sale of Cameroon and Gambia units. Exit cuts $300 million in risk-weighted assets. Move...
Central Bank reviewing core banking laws to clarify fintech and digital banking oversight Kenya remains one of Africa’s largest fintech...
New naira 75 billion ($55.4 million) private debt fund targets Nigeria’s agribusiness sector. First phase aims to raise naira 25 billion from...
Most Read
01

ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...

ECOWAS Eco Currency May Launch Without WAEMU in 2027 Push
02

Algeria plans to launch construction of the $13 billion Trans-Saharan Gas Pipeline (TSGP) a...

Algeria–Morocco: Will the Gas Pipeline Duel Take Place? (Editorial)
03

West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...

BOAD Launches 2026–2030 Strategy With Boston Consulting Group Support
04

Kenya raised $2.25B via dual-tranche Eurobonds to buy back 2028/2032 debt, luring investors w...

Africa’s Comeback on International Market: Kenya Adds-up to The 2026 Wave of Sovereign Issuances
05

Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...

Guinea's Largest Gold Mine Records 6% Output Rise in 2025
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.