Airlines Business & Finance

RwandAir to sell 49% stake to Qatar Airways

RwandAir agrees to give Qatar Airways a 49% stake in the national airline of Rwanda.

Qatar is increasing it’s market presence weeks after taking a majority stake in the new Rwanda airport.

Qatar Airways CEO Al Baker told reporters that his airline is interested in investing in Rwandair after identifying Africa as a market with significant potential, yahoo reports.

Qatar Airways agreed in December to acquire a 60% stake in the new Bugesera International Airport in Rwanda, located south of the capital, Kigali, where the existing infrastructure is at full capacity. As part of the agreement, the Gulf airline will invest 1.3 billion dollars in the construction and administration of the facility.

“It will be a very efficient center in a very stable country in the heart of Africa,” said Al Baker. “And we are going to bet on its national operator because we see that Africa is another region that has enormous growth potential.”

The first phase of the new airport is expected to be completed sometime in 2022.