Ghana partners with EgyptAir for new flag carrier

The government of Ghana has chosen EgyptAir (MS, Cairo Int’l) as its strategic partner for the re-establishment of a new Ghanaian flag carrier. A Memorandum of Understanding (MoU) between Ghana’s Aviation Minister Joseph Kofi Adda and EgyptAir’s Deputy Chairperson Hassan Mounir was signed in Accra on October 21, 2020. The choice of EgyptAir as the preferred strategic partner follows a series of engagements between a senior management team of EgyptAir and a committee of aviation experts tasked by Ghana’s Ministry of Aviation. Ghana in 2018 had signed a similar MoU with Ethiopian Airlines (ET, Addis Ababa) in terms of which the Ethiopian flag carrier would have contributed funding, equity, aircraft, and management services for a new Ghananian national airline. However, the deal was held back due to disagreement over key issues such as routes, funding, and tenure of the management contract reported Aviation Ghana. According to a report by GhanaWeb, EgyptAir had presented a “remarkably more attractive proposal”. A shareholders’ agreement was still expected to be finalised in the coming weeks. The agreement would also need to be ratified by Ghana’s parliament. The government was expected to maintain a 10% shareholding in the new airline, with the majority of shares to be held by private investors. The government previously said its role would be to “kick-start” the new carrier and then take a back-seat in its operations. Adda told reporters after the signing ceremony: “We were looking out for what is best for Ghana in all our engagements with the potential partners.” EgyptAir Chairman and Chief Executive Officer Amr Abu El-Enein said: “We are pleased with the confidence of the Ghanaian government in choosing and preferring EgyptAir for this strategic partnership in establishing a new airline operating from its headquarter in Accra, with a network of routes throughout Africa, connecting it with countries in North and South America.” Egypt was keen to strengthen cooperation with African countries and develop aviation on the continent, Cairo media reported. EgyptAir’s holding company in 2018 reportedly already signed a contract with Ghana’s Ministry of Aviation for MRO services at Kotoko International Airport, Accra.