Ivory Coast's Minister of Economy and Finance, Air France and the Aga Khan Fund for Economic Development (AKFED) signed (16-May-2012) a 'framework partnership agreement', a 'shareholders’ agreement' and articles of establishment to found Air 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). Côte d’Ivoire contributed 65% of the initial capital, while 20% was contributed by Air France and 15% by Aérienne de Participation-Côte d’Ivoire, the airline holding company representing AKFED. The carrier has a strategic partnership agreement with Air France and the Aga Khan fund and will also benefit from cooperation with Air Burkina and Air Mali, which are part of the AKFED Group. The three African airlines will cooperate very close together "in order to build an economically viable long-term model” according to the Cote d'Ivoire government. René Décurey has been appointed as the airline’s CEO. The carrier plans to launch regional routes in Jul-2012 followed by domestic routes by the end of 2012. The carrier is presently recruiting flight and cabin crew. [more - original PR - Ministry of Economy and Finance] [more - original PR - France]
Air France becomes a strategic partner of Air Côte d’Ivoire
You may also be interested in the following articles...
CAPA Asia Aviation Summit Day 1: Trump impact on aviation, long haul LCCs, future of Asian FSCs
The CAPA Asia Aviation Summit was held on 15/16-Nov-2016 at the Capella at Sentosa in Singapore. First off, BOC Aviation's Robert Martin and Indigo Partners' William Franke discussed the outlook for long haul LCCs, as well as the aviation implications from Donald Trump's election to US President. Malaysia Airlines CEO Peter Bellew gave a key presentation on the transformation of the airline and plans for its A380 fleet.
Panel discussions addressed the future of the full service airline model in Asia, the opportunities from big data, China's "One Belt, One Road" strategy, joint venture strategies, partnerships/alliances at LCCs.
Day one was capped off by a Gala Dinner with the CAPA Asia Aviation Awards for Excellence.
Qatar Airways turning 20 - and hoping for a joint venture with American Airlines
Qatar Airways turns 20 in 2017. The once tiny regional airline has become a global powerhouse and is reshaping oneworld, the alliance to which it belongs. Qatar has stakes in IAG and LATAM, and Qatar Airways CEO H.E. Akbar Al Baker has told CAPA that in the near future he expects Qatar to make acquisitions in two additional airlines, aside from Meridiana. He said the additional airlines would be successful airlines, as "We are not going to collect crap".
Strategic partnerships without equity are important; Mr Al Baker hopes American Airlines will cease its partnership with Etihad Airways and work solely with Qatar Airways, even forging a multilateral JV anchored around American, British Airways/IAG and Qatar. Qatar is heading towards a fleet of 250 aircraft in 2-2.5 years' time. Mr Al Baker expects recently ordered 787-9s to replace 787-8s, while an LoI for 737 MAX 8s will be to replace Qatar's A320s and grow that fleet.