25-Mar-2010 1:15 PM

RwandAir secures USD29 million credit facility; to acquire two B737-800s

Rwanda's Finance and Economic Planning Minister, John Rwangombwa, stated Rwandair has secured a USD29 million credit facility from the Eastern and Southern African Trade and Development Bank (PTA Bank) that will be used to help the carrier implement its five year development plan (NewTimes, 24-Mar-2010). The loan will help the national carrier to purchase two B737-800s from Boeing, with the aircraft to be delivered in Aug-2011 and Oct-2011, respectively. In 2009, the carrier secured a USD40 million loan from PTA Bank, to be used to purchase two Bombardier CRJ200 aircraft. The carrier has a target of acquiring its own fleet of six aircraft by 2012.  

Rwandair:  “As Government, we are here to give full support to the national carrier in not only becoming a regional airline but also an international airline. So the deal is a huge milestone not only for the carrier but for the country and the region as a whole,” John Rwangombwa, Minister of Finance and Economic Planning. Source: NewTimes, 24-Mar-2010.

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