West African Airlines To Gain Investment

The West African Development Bank has approved an investment and share acquisition of ASKY Airlines and Air Cote d'Ivoire Airlines.

The bank will invest $47.9m in ASKY Airlines, a passenger airline based in Lome, Togo, increasing its stake to $5.8m.

Its shares in Air Cote d'Ivoire, the national airline of the Ivory Coast, will rise by 160 per cent to $124.7m, in the process it will take a $3.8m stake in the company.

The decision was announced by the bank’s board of directors during its 94th ordinary meeting this week in Dakar, Senegal.

TAGS: Africa
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