The Ivory Coast’s national carrier Air Cote d’Ivoire is planning to take a $114m loan from Cairo-based African Export-Import Bank (Afreximbank) to fund the acquisition of two new aircraft, worth $120m.
The carrier signed an agreement with Bombardier to purchase two Q400 NextGen aircraft in late-2013, with an option to purchase two additional jets.
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Air Côte d’Ivoire chief executive officer René Decurey was quoted by Reuters as saying: "We approached Afreximbank, which is in charge of financing and will pay 95% of this amount."
The carrier will finance the remaining 5%.
Speaking at a presentation in Abidjan, Ivory Coast, Decurey said the airline plans to open domestic routes in the second quarter of 2014.
"These planes, which will be delivered in September and October 2014, will allow us to service the domestic and regional network," he added.
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By GlobalDataThe Q400 NextGen turboprop, the latest variant in Q400 aircraft, is optimised for short-distance operations, and can accommodate 70-80 passengers.
Air Cote d’Ivoire currently operates a fleet of two Airbus A319 aircraft and an Embraer 170 aircraft, and provides services to 13 regional destinations.
Its new domestic flights will include Bouake, Korhogo, as well as the country’s second port city San Pedro.
Air Cote d’Ivoire is state-owned (65%), with Air France holding 20% share and private investors the remaining 15%.
Image: Late last year, Air Cote d’Ivoire signed an agreement with Bombardier to purchase two Q400 NextGen aircraft. Photo: courtesy of Bombardier.
