New national Air Côte d’Ivoire plans domestic and international route launches this year

Côte d'Ivoire's new national carrier, Air Côte d'Ivoire, has been formed in a partnership with Air France and the Aga Khan Fund for Economic Development (AKFED) and is due to launch international services by the end of Jul-2012 and domestic routes later in the year.

The Côte d'Ivoire Government will control 65% of the carrier with another 20% controlled by Air France and the remaining 15% held by AKFED through an airline holding company, Aérienne de Participation-Côte d'Ivoire. Initial capital was set at XOF2.5 billion (USD4.9 million) and will rise in the short term to XOF25 billion (USD48.6 million).

State ownership will reportedly drop to 51% once the capital raising is complete, with private investors taking the 14% stake in the airline. Air France initially was to control 35% of the carrier, but in early 2012 AKFED agreed to take a 15% stake.

The hope is that the founding of the airline will be a watershed for aviation in the small West African nation, which has been without a national carrier since the bankruptcy and collapse of Air Ivorie in 2011.