Public Management

Rwanda sets $152mln rescue plan for its national carrier

Rwanda sets $152mln rescue plan for its national carrier
Monday, 25 May 2020 13:22

The government of Rwanda announced on May 21 the disbursement of $152 million to support the national airline -Rwandair- in this pandemic.

Up by $17 million from the initial plan, this financing should enable the company to sustain its cash flow, which has sharply declined since the suspension of scheduled flights on 19 March due to travel restrictions.

The crisis has forced the company to take drastic measures, including reducing staff salaries and suspending some service contracts. In the meantime, Rwandair has started providing cargo services to London, Brussels, and Guangzhou to earn some revenue.

In a May 19 tweet, the airline announced a further extension of the suspension of its scheduled flights. This measure, which is aimed at limiting the spread of the coronavirus, will remain in force until further notice.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Gabon allocates $6.9 million to acquire 35% stake in ABG Move aims to stabilize firm and protect 800 jobs Company faced cash issues,...
DR Congo hires Rothschild to support international market entry €2 million, 12-month contract signed March 24, 2026 Deal linked to...
$20 million loan to support lending to small businesses At least 25% of funds allocated to women-led enterprises Financing aims to ease major...
Ci Gaba VC Limited secures $34.9 million in its first close, targeting a final $90 million (1 billion GHS). The fund-of-funds invests in...
Most Read
01

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
02

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
03

UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...

UBA, British International Investment explore Africa trade finance deal
04

Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime ag...

Ghana pushes UN recognition of slave trade as crime against humanity
05

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.