Africa

RwandAir says Qatar Airways close to acquiring stake

A RwandAir plane is seen at the Kanombe, Kigali International Airport in Rwanda on January 12, 2020. (Photo: Clement Uwiringiyimana/Reuters)

By Reuters | Sunday, June 16, 2024

For the past five years, Qatar and Rwanda have been working on a deal that would give the Gulf nation's airline a 49 per cent stake in RwandAir for an undisclosed sum.

RwandAir expects Qatar Airways to finalise its purchase of a major stake in the central African country's carrier as early as next month, chief executive Yvonne Makolo told the Financial Times.

"It's been going on for a while, we have been discussing it for almost five years. So, now, we're really at the tail-end of it," Makolo said.

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For the past five years, Qatar and Rwanda have been working on a deal that would give the Gulf nation's airline a 49 per cent stake in RwandAir for an undisclosed sum, the FT report added.

Qatar Airways declined to comment, while RwandAir did not immediately respond to a request for comment.

Earlier this year, Qatar Airways CEO Badr Mohammed Al Meer said that Qatar Airways would soon announce an investment in an airline in southern Africa.

In 2019, Qatar Airways took a 60 per cent stake in a new $1.3 billion international airport being built in Rwanda and has codeshare agreements with several airlines in Africa, including RwandAir.

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