Browsing: Qatar Airways

Mota Engil comeback to Bugesera airport construction deal

Rwanda’s government is considering signing a concession agreement with Mota Engil Africa, as a technical partner in the construction of the Bugesera International Airport.

Rwanda seeks to mobilise its portion of the $1.3 billion needed to expedite works in the deal.

Mota Engil signed a contract in 2016 with the government of Rwanda to construct the new Bugesera International Airport, where it took 75 per cent of the stake while Rwanda’s government retained 25 per cent.

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According to the contract, Mota Engil was to build and operate the airport for 25 years, with an option of extending for more 15 years to recoup its investment.

In 2019 December, turn of events saw the government signing off a new deal with Qatar Airways which in turn pushed out Mota Engil.

In the deal, Qatar Airways took 60 per cent of stake in …

Qatar Airways is in talks to buy a 49 per cent stake in RwandAir, its chief executive said.

Qatar Airways is also interested in doubling its holding in LATAM Airlines Group to 20 per cent with an objective of having equal stake with Delta Air Lines in LATAM.

Although no details have yet been revealed, like the amount of money Qatar airways is spending on the stake, the purchase will mean the government of Rwanda will remain with a controlling stake of 51 per cent in the airline.

Industry analysts say for both airlines the deal is a win-win situation and that owning shares in a growing African airline like RwandAir will act as a springboard for Qatar Airways into the African aviation market.

Also Read: RwandAir face competition from Kenya’s budget carrier

Qatar Airways acquiring a stake in RwandAir would widen its reach and potentially help the Airways bypass …

Rwanda—East Africa’s fastest-growing economy has paved the way for Qatar Airways—world’s best airline in 2019, to get 60 per cent stake in the new $1.3 billion international airports in Rwanda.

This is according to a Reuters report which says that the information was revealed by state-run development board on Monday 10 December 2019.

The international news outlet says the development board highlighted that the first phase of construction would provide facilities for 7 million passengers a year in the Bugesera district, about 25 km southeast of the nation’s capital Kigali.

Further, the second phase, which is expected to be completed by 2032, would double capacity to 14 million passengers a year.

Rwanda has been an active economic performer in the region, whereby—the African Development Bank report shows that the real GDP growth in Rwanda reached 6.1 per cent in 2017 and was estimated at 7.2 per cent in 2018 …

Qatar Airways plans to buy shares that RwandAir is in the process of selling, the succession of the deal is expected to shake up the country’s aviation industry.

Aviation experts say by Qatar buying shares in RwandAir, it could enable it to solidify its presence in the African market given its current woes with its Gulf neighbours.

Qatar Airways was banned from flying over Saudi Arabia, the United Arab Emirates. since mid -2017 it was also banned in Bahrain due to a dispute between it and the Gulf states. Therefore, buying a stake in the RwandAir will support its expansion into Africa as an alternative market after the ban from its key markets.

Despite still making loses, RwandAir has been expanding over the past decade, due to financial injections from the government, many of which are from external loans like the Eurobond.

With Qatar buying shares in RwandAir, it …