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
Mobile microloans reach 897,021 in CEMAC, totaling CFA14.45 billion Growth driven by mobile money expansion, fintech partnerships, automated...
Letshego Africa Holdings, a Botswana-based financial services group listed on the Botswana Stock Exchange, signed agreements with Axian Digital...
First RMBS listing on BRVM backed by NSIA Banque Côte d’Ivoire CFA10 billion securitization aims to expand housing finance Move seeks to deepen...
Holmarcom to acquire BNP Paribas 67% stake in BMCI Deal pending approvals, expected to close Q4 2026 Move strengthens Holmarcom...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...

Chinese Automaker Jetour to assemble SUVs in South Africa from 2027
05

Ecobank named alongside AfDB, ECOWAS, EBID and BOAD in the April 27, 2026 corridor financing mis...

Ecobank's Quiet Inclusion in the AfDB Mission Reshapes the Abidjan-Lagos Corridor Story
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.