Air Côte d'Ivoire: The border closures cost USD 86 million, 29% of which was offset by state aid
Air Côte d'Ivoire lost 48 billion FCFA ($ 86 million) due to the Covid-19 which resulted in the closure of borders and the suspension of its operations for 3 months. The State has allocated a subsidy of CFAF 14 billion. Since the takeover, the transporter has recovered 50% of its activities. Its new A320neo will be delivered on October 20.
Air Côte d'Ivoire, like all airlines around the world, has been hit hard by the economic conditions of the Covid-19 pandemic. The Ivorian national company saw its planes grounded from March 23 to July 15, 2020, causing a loss in revenue of 48 billion FCFA (86 million USD), she said in a note-balance sheet.
To cope with the effects of the health crisis, the transporter benefited from a state subsidy of 14 billion FCFA (25 million USD). A bailout which made it possible to support the resilience plan and the resumption of operations.
From July 15 to the end of September, Air Côte d'Ivoire "recovered after 3 months of inactivity and 2.5 months of recovery, 50% of its activities for 50% for passengers regained and 60% of turnover recovered. ".
According to the current dynamic, the carrier is targeting, by the end of 2020, a level of 60% of passengers and 65% of turnover for 2019. For this, Air Côte d'Ivoire intends to deploy 80% of its production by the end of the year. It is in this logic that the reception of its new A320neo, the delivery of which is scheduled for October 20, is part of. This aircraft “consumes 20% less fuel […] In addition, its maintenance costs are 5% lower. It is an aircraft which therefore wants to reduce operating costs by 14% compared to an aircraft of the same family and of the previous generation ”underlines the company.
Its current fleet includes four A319ceo, two A320ceo, and four Dash8-400. In 2019, the company, which employs 604 workers, transported 761,739 passengers, achieving a turnover of 83 billion FCFA and a net loss of 7.3 billion FCFA
Air Côte d'Ivoire, like all airlines around the world, has been hit hard by the economic conditions of the Covid-19 pandemic. The Ivorian national company saw its planes grounded from March 23 to July 15, 2020, causing a loss in revenue of 48 billion FCFA (86 million USD), she said in a note-balance sheet.
To cope with the effects of the health crisis, the transporter benefited from a state subsidy of 14 billion FCFA (25 million USD). A bailout which made it possible to support the resilience plan and the resumption of operations.
From July 15 to the end of September, Air Côte d'Ivoire "recovered after 3 months of inactivity and 2.5 months of recovery, 50% of its activities for 50% for passengers regained and 60% of turnover recovered. ".
According to the current dynamic, the carrier is targeting, by the end of 2020, a level of 60% of passengers and 65% of turnover for 2019. For this, Air Côte d'Ivoire intends to deploy 80% of its production by the end of the year. It is in this logic that the reception of its new A320neo, the delivery of which is scheduled for October 20, is part of. This aircraft “consumes 20% less fuel […] In addition, its maintenance costs are 5% lower. It is an aircraft which therefore wants to reduce operating costs by 14% compared to an aircraft of the same family and of the previous generation ”underlines the company.
Its current fleet includes four A319ceo, two A320ceo, and four Dash8-400. In 2019, the company, which employs 604 workers, transported 761,739 passengers, achieving a turnover of 83 billion FCFA and a net loss of 7.3 billion FCFA
Source: newsaero
