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DRC: Government Plans To Create A New Joint Venture Airline With Ethiopian Airlines

The Democratic Republic of Congo is considering setting up a new national airline. This subject was at the center of the series of meetings held from September 5 to 7 in Addis Ababa between the Congolese delegation led by Cherubin Okende Senga, Minister of Transport and the management of the aviation company Ethiopian Airlines.


According to Tewolde Gebremariam, the boss of the Ethiopian group, the launch of this airline could materialize as part of a joint venture in which the Congolese would hold 51% of the shares against 49% for Ethiopian Airlines. For his part, Chérubin Okende said he considered the creation of a standardized, reliable and viable airline to promote the opening up of the national territory.

“Opening up the national territory is the essential basis of economic and social development, notably through upgrading air transport in optimal conditions of safety and security. It is in this context that I place my partnership strategy with Ethiopian Airlines, ”said Minister Cherubin Okende Senga.

Congo Airways, the national flag carrier banned from the EU. Congo Airways is the national airline of the Democratic Republic of the Congo. It is on the list of air carriers banned in the European Union.

 

Its network includes around ten domestic routes. Before the crisis, Congo Airways also offered regional flights, particularly to Johannesburg, Douala and Cotonou. It has a fleet of four aircraft, two A320-200s and two Dash 8-400s. Its order book also includes two Embraer E190-E2 and two E195-E2, valued at $ 272 million at list price. The delivery of the first device is scheduled for May 2022 with the possibility of early delivery at the end of this year.

Its shareholders are made up of eight entities including the Congolese government 39.9%, National Social Security Fund (CNSS) 30.7%, Congolese Transport and Ports Company (SCTP) 8.52%, Industry Promotion Fund (FPI) 8.52%, Airways Authority (RVA) 5.54%, Maritime Freight Management Office (OGEFREM) 3.41%, General of Quarries and Mines (GECAMINES) 1.70%, Employees of Congo Airways 1.70%.

 

Ethiopian Airlines and its African joint ventures, a mixed experience ...

With the exception of ASKY Airlines in which Ethiopian Airlines now holds 20% of the shares, full growth does not always seem to be present among joint ventures under the Ethiopian flag, notes the Ecofin agency. Malawian Airlines, in which Ethiopian Airlines holds a 49% stake, now has a debt of more than $ 17 million for just two aircraft since its creation in 2013. Last March, the company temporarily suspended operations for lack of aircraft available. In deficit since its launch, it benefited at the last minute from a recapitalization in May after the board of directors previously declared the company technically insolvent and suggested its liquidation.

 

Launched in October 2018, Tchadia Airlines in which Ethiopian Airlines holds 45% remains capped at one operational aircraft and only two international services (Douala and Bangui) in 3 years of operations. Ethiopian Airlines Mozambique, started in December 2018 with a Dash 8-400, has suspended its operations since last May, the health crisis having weakened its cash flow.

Zambia Airways, the fifth African joint venture of Ethiopian Airlines (45%) will take off on September 30, 2021. Resurrected from 27 years of lethargy, the carrier hopes to erase the image attributed to African airlines southern, cited in recent years among the poorest performers on the continent.

To observe the facts, the DRC is called to think twice before starting this cooperation.

 

 

 

Jordan MAYENIKINI

 

deskeco.com/2021/09/13/rdc-le-gouvernement-envisage-la-creation-dune-nouvelle-compagnie-aerienne-en-coentreprise-avec

 

Tags:DRC: Government Plans To Create A New Joint Venture Airline With Ethiopian Airlines
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