Qatar Airways buys RwandAir shares to counter problems with Gulf neighbours
JOHANNESBURG – Qatar Airways is solidifying its aviation presence in the African market by purchasing shares in Rwanda’s national airline, RwandAir, to counter its current problems with its Gulf neighbours after its airline was banned from flying over neighbouring Saudi Arabia, the United Arab Emirates (UAE) and Bahrain in mid-2017 due to a political dispute between the sides.
Kigali’s decision to sell shares in its national carrier to Qatar Airways is expected to shake Rwanda’s aviation industry and beyond, the East African reported.
The details of the deal between the two countries are sketchy with RwanadAir’s chief executive Yvonne Makolo refusing to comment on the development which is believed to be at an advanced stage with institutions from both carriers fast-tracking all the necessary processes to conclude it.
RwandAir has been making losses. However, it has still been expanding over the past decade due to financial injections from the government.
- African News Agency (ANA)