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Topic: ET To Invest In African Start-up
Username: Ota1
Posted 2008-07-03 02:04:37 and read 2236 times.

ET signed a MOU with ASKY, a multinational, Lome, Togo based start-up airline which will lead to ET buying a 20% stake in the airline as well as the implementation of an extensive partnership between the to making Lome the second largest hub in Africa for ET.

News here

When I had heard of ASKY for the first time early this year I thought this one would never get off the ground. However it seems I might have been wrong.
Anyway that's great news for both ASKY and ET.

[Edited 2008-07-03 02:05:32]

Topic: RE: ET To Invest In African Start-up
Username: YOWza
Posted 2008-07-03 07:08:22 and read 2112 times.

While ET has its act together and has shone while many other African carriers have tanked I'm pretty apprehensive about this. Based on the (pretty poor) coprorate website ASKY seem to have ambitions of becoming the second of Air Afrique. We all know how that ends.

Any idea where they're sourcing the "3 short haul, 2 long haul and 3 regional aircraft from?"

Is that really enough metal to service the routes shown on the network page?

YOWza

Topic: RE: ET To Invest In African Start-up
Username: ETStar
Posted 2008-07-04 11:17:39 and read 1963 times.



Quoting YOWza (Reply 1):
While ET has its act together and has shone while many other African carriers have tanked I'm pretty apprehensive about this. Based on the (pretty poor) coprorate website ASKY seem to have ambitions of becoming the second of Air Afrique. We all know how that ends.

I wondered about this as well, but what's different about ASKY is that it is not owned by the governments that owned Air Afrique. A quote from a previous news article states "The airline is endowed with a capital of USD 120 million, of which 80% is shared among private investors while 20% would be held by public financial institutions whose mission is to support privately owned development institutions."

I am sure that each government is well aware of the mistakes they made and the ramifications that followed the demise of RK, and hope that they will not meddle in the airline's day to day business.

Does anyone know what's happening at Ghana International? Their start looked quite promising, but not much has been heard for well over a year.


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