Congo Airways secures s a state loan of 1 million dollars
Congo Airways is getting a little breath of fresh air. The main company in the Democratic Republic of Congohas just signed a credit agreement with the Industry Promotion Fund (FPI), one of the state's financial arms, for an amount of $ 1.039 million.
"The disbursement will take place shortly," the company's chief executive told News Aero. "It's to pay a few bills", explains Desiré Balazire Bantu. This loan, granted for a period of 36 months, has a grace period of 6 months at the rate of 3% per annum.
According to the Congolese newspaper Politico, the carrier received initial financing from the FPI in 2019 to the tune of $ 1.034 million, which was intended for the costs of maintenance and the acquisition of spare parts for its aircraft.
Affected by the financial crisis following the Coronavirus pandemic, the carrier is preparing to resume operations. Congo Airways, which operates a fleet of 4 planes (two A320s and two Dash8-400s), lost nearly four months of revenue, or more than 30% of last year's revenue.
“The post COVID-19 will be different. There will be a lot of challenges to overcome ”confided Désiré Balazire, last June when the announcement of the conversion of the four E175s ordered in December 2019 (two farms and two purchase rights) into four E190-E2.
"The disbursement will take place shortly," the company's chief executive told News Aero. "It's to pay a few bills", explains Desiré Balazire Bantu. This loan, granted for a period of 36 months, has a grace period of 6 months at the rate of 3% per annum.
According to the Congolese newspaper Politico, the carrier received initial financing from the FPI in 2019 to the tune of $ 1.034 million, which was intended for the costs of maintenance and the acquisition of spare parts for its aircraft.
Affected by the financial crisis following the Coronavirus pandemic, the carrier is preparing to resume operations. Congo Airways, which operates a fleet of 4 planes (two A320s and two Dash8-400s), lost nearly four months of revenue, or more than 30% of last year's revenue.
“The post COVID-19 will be different. There will be a lot of challenges to overcome ”confided Désiré Balazire, last June when the announcement of the conversion of the four E175s ordered in December 2019 (two farms and two purchase rights) into four E190-E2.
Source: newsaero
