March 6, 2018 / 8:08 PM / 5 months ago

Air Cote d'Ivoire to raise $111.5 mln in 2018 for new aircraft

ABIDJAN, March 6 (Reuters) - Ivory Coast’s national airline Air Cote d’Ivoire aims to raise $111.5 million in the second half of the year to finalise its aircraft acquisition programme, the company’s chief executive told Reuters on Tuesday.

The company is seeking a bank to coordinate with the African Development Bank to co-arrange and structure the debt that will go towards acquiring five new Airbus A320 planes, Rene Decurey said.

Air Cote d’Ivoire already has a fleet of 10 planes and operates in 20 African and 5 domestic destinations. The five new five planes will make it one of Africa’s primary carriers.

The African Development Bank (AfDB) in November approved 98 million euros ($114 million) in loans for the aircraft, two of which have already been delivered.

Reporting by Loucoumane Coulibaly, editing by David Evans

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