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
Live News
-
AgDevCo Invests $10 Million in Zambia’s Hybrid Poultry to Expand Processing Capacity
11:15
-
VivaJets and TLG Deal Signals Off-Balance Sheet Aviation Financing in Africa
11:03
-
AXIAN Energy, Africa Via and InfraCo Africa officially launch the Kong Solaire project
10:46
-
INP-HB and Stellenium Aim to Make Côte d’Ivoire West Africa’s AI Hub
09:26
-
Niger Establishes National Cybersecurity Center Amid Rising Threats
20:51
-
Algerian Pharmacists Push for Digital Prescriptions to Curb Drug Fraud
20:07
-
Tunisia Pitches a 'Smart City' Tech Hub in Burkina Faso
20:03
-
Tantchonta M’PO Builds a Digital Ladder for African SMEs
19:55
-
CEMAC Bank Lending Surges 11.3% in Q2 2025, Driven by Industry and Services
19:19
-
Cameroon’s Chamber of Commerce Urges Chocolatiers to Join Paris Chocolate Fair
18:57
• UAC of Nigeria acquired CHI Limited, known for Chivita juices and Hollandia dairy, from Coca-Cola ...
• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...
Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...
• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...
IFC will provide up to $40 million to Banque Islamique du Sénégal (BIS) under a Mourabaha agr...
• AgDevCo provides a $10 million senior debt loan to Hybrid Poultry to build a modern abattoir.• The project is expected to create 270 new direct...
(AXIAN ENERGY) - Côte d'Ivoire is taking another step towards energy independence with the construction of the Kong Solaire photovoltaic project. Located...
• INP-HB and tech firm Stellenium signed a memorandum to build sovereign cloud and data infrastructure in Côte d’Ivoire.• The project will train...
• Namibia is in talks with Angola to use the Angosat-2 satellite to expand telecom coverage, particularly in rural areas.• The project could support...
African countries prepare to celebrate Intangible Cultural Heritage Day Planned events spotlight traditions, rituals, and cultural...
The Cape Floral Region is one of the world’s biodiversity hotspots and a source of ecological pride for South Africa. Located in the southwestern part of...