The Republic of Congo’s state-owned Equatorial Congo Airlines (ECair) has signed a memorandum of understanding with South African company, Allegiance Capital, to revive the airline’s operations after filing for bankruptcy in 2016. The carrier will prioritize national routes before expanding to the sub-region and West Africa, to destinations including Cotonou, Benin; Bamako, Mali, and Dakar, Senegal.
The partnership was signed by H.E. Jean-Marc Thystère-Tchicaya, Congolese Minister of Transport; H.E. Denis Christel Sassou-Nguesso, Congolese Minister of International Cooperation and Eric Kenneth Mouritzen, CEO of Allegiance Capital.
Commenting on the agreement, H.E. Denis Christel Sassou-Nguesso stated on Twitter that “the partner we have identified will make an initial investment of around $26 million. This cash contribution will enable technical investments to be made, settle the social debt and ensure national flights, to begin with.”
This is the second time the Congolese government has partnered with Allegiance Capital. Their first collaboration started in 2008 with the creation of Nouvel Air Congo (NAC), a company that has since 2020 ceased all activities. However, the Congolese government has launched talks with former NAC Director General Jean Fulbert Rodgrique Nombo to restart activities.
Congo International Energy Summit 2022
To find out more information regarding speaker or sponsorship opportunities at the Congo International Energy Summit please visit Cie-summit.com.
