EgyptAir has been selected by Government as the preferred strategic partner in the establishment of a new national airline.
The Cairo-based airline’s proposal, after careful scrutiny by the committee of aviation experts constituted by the Aviation Ministry, was superior to that of Africa’s biggest airline, Ethiopian Airlines.
A Memorandum of Understanding (MoU) between EgyptAir and Government is to be signed with shareholders agreement expected to be finalised in the coming days.
Subsequently, the agreement is to be submitted to Parliament for approval in the coming weeks.
EgyptAir currently operates scheduled passenger and freight services to more than 75 destinations in the Middle East, Europe, Africa, Asia, and the Americas.
Despite the impact of the COVID-19 pandemic on the aviation sector, the Government of Ghana plans to facilitate the setting up of a new home-based carrier.
In an initial MoU signed with Ethiopian Airlines (ET) last year to be the strategic partner, government said ET can hold up to a 49 percent stake. Of the majority 51 percent stake, 10 percent is to be owned by the State and 41 percent offered to individuals and institutional investors.
However, the choice of Ethiopian Airlines as the strategic partner was held back due to lack of agreement over key issues such as routes and tenure of the management contract.