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RwandAir says Qatar Airways close to acquiring stake

By Gursimran Mehar

18 Jun 2024

RwandAir expects Qatar Airways to finalise its purchase of a major stake in the central African country's carrier as early as next month, chief executive Yvonne Makolo told the Financial Times. "It's been going on for a while, we have been discussing it for almost five years. So, now, we're really at the tail-end of it," Makolo said.

A Rwandair plane is seen at the Kanombe, Kigali International Airport in Kigali, Rwanda January 12, 2020. REUTERS/Clement Uwiringiyimana/File photo

For the past five years, Qatar and Rwanda have been working on a deal which would give the Gulf nation's airline a 49% stake of RwandAir for an undisclosed sum, the FT report added.

Qatar Airways declined to comment while RwandAir did not immediately respond to a request for comment.

Earlier this year, Qatar Airways CEO Badr Mohammed Al Meer said that Qatar Airways will soon announce an investment in an airline in southern Africa.

Qatar Airways in 2019 took a 60% stake in a new $1.3 billion international airport being built in Rwanda and has code share agreements with several airlines in Africa including RwandAir.

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Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/