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
Togo raises $53M via bonds and bills, surpassing 30B XOF target Auction saw 160.86% bid coverage; OATs issued at 6.25% for three years Total...
Africa’s instant payment systems processed 64 billion transactions worth $1.98 trillion in 2024, according to AfricaNenda. The continent counted...
EIB and ZICB to mobilize €30M for Zambian agribusiness SMEs 30% of funds reserved for women-led enterprises; €4M risk-sharing...
IFC lends 170 million rand to Lula to boost digital, unsecured SME lending 80% of funds will support micro and small enterprises Deal strengthens a...
Most Read
01

DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...

DRC in Talks with Alibaba, Isoftstone to Develop a Chinese-Style E-Commerce Model
02

West African officials met in Lomé to improve municipal finances for crisis response Talks focuse...

West African Officials Draft Crisis-Proof Budget Strategy in Lomé
03

Launch led by Maroc Telecom, Orange, and Inwi Rollout targets 25% coverage by end-2025 under Digi...

Morocco Launches 5G Nationwide Ahead of 2025 Africa Cup of Nations
04

The new unified platform replaces the NIBSS Instant Payments system. It connects banks, finte...

Nigeria Launches National Payment Stack, Targets Faster Digital Transactions
05

Germany to provide €49 million ($56.7 million) to support ECOWAS projects. Funds target peac...

ECOWAS secures $56.7mln German support for security and governance
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.