kevin
Posts: 1015
Joined: Sat Dec 02, 2000 5:03 am

RIP Air Afrique

Thu Aug 16, 2001 2:52 pm

Air Afrique (Abidjan) will be liquidated (the company currently has over $400 million in debt) by their 11-member states ownership group. In its place a new Air Afrique will be formed (the 11-member states will now own less than 30% of the shares of the new company, Air France will own the largest portion).

 
watewate
Posts: 2216
Joined: Sun Nov 12, 2000 6:00 am

RE: RIP Air Afrique

Thu Aug 16, 2001 2:59 pm

I guess the attempts to restructure the airline failed spectacularly? I don't think anyone is surprised by this, as rooting out the inherent corruption in the organization seemed too great to overcome. Maybe AF can make a decent airline from scratch to add to SkyTeam mix.
 
Guest

RE: RIP Air Afrique

Thu Aug 16, 2001 3:08 pm

I think that'll be better...I know the 11-member AFrican countries took great pride in the ownership of Air Afrique. But with financing assistance from AF it will create, possibley, a more secure, stable , and happier new Air Afrique!
 
SA-JET
Posts: 280
Joined: Wed May 24, 2000 7:51 am

RE: RIP Air Afrique

Thu Aug 16, 2001 10:14 pm

Nothing will change. "New" company, same problems-African bureaucracy and political in-fighting.
 
Guest

RE: RIP Air Afrique

Thu Aug 16, 2001 10:27 pm

Skyteam member coming up, would you like french fries with that sir  Big grin

~J~