EgyptAir plans to purchase a majority stake in CityLink, according to a CitiFM Online report. Ghana Civil Aviation Authority director general Air Commodore Kwame Mamphey (Retired) confirmed the proposed move by the company, stating, “We are aware of their activities; we will study the proposal and make our recommendations to the Ministry when they present their proposals. As at now we do not know the details but discussions are ongoing but they need to put their acts together and present their proposals first". EgyptAir reportedly settled on CityLink after initially assessing other options in the industry. If the agreement proceeds, CityLink could reportedly expand operations on the West African corridor and a name change for the carrier is possible. Current majority shareholder in the company, Tei Azu and the rest of the local investors, will reportedly hold the remaining stake in the company.
7-Sep-2012 12:49 PM