Saturday, October 19, 2019

Paul Biya 'unable' to finance Camair-Co's 327 billion plan

The plan proposed in 2016 included the expansion of Camair Co's fleet of five aircraft to 14 over a five-year period.

The national airline has been in turbulence for many years.  Camair Co's new general manager, Louis Georges Njipendi, has asked the government to release an envelope of more than 2.6 billion FCFA.

On May 28, 2019, the new leaders of Camair Co, in principle received a transfer of 500 million CFA from the Cameroonian Treasury.  The release of a third tranche of a little over 500 million FCFA was expected no later than May 31, 2019.

In fact, since the launch of its activities in 2011, Camair Co has been crumbling under a debt of some 35 billion FCFA.  The State had promised a global envelope of 6 billion FCFA.  So far, the amount has not been released.  Added to this, the company is fully grounded (five out of six aircraft) for various failures.

And yet, in 2016, the US firm Boeing Consulting has proposed to the government a recovery plan of the airline.  This plan was set at 327 billion FCFA provided to the fleet of Camair Co (purchase and lease of aircraft), from five aircraft currently, to 14 over a period of 5 years.  the CFAF $ 60 billion, the resizing of the network and the modernization of the fleet, currently composed of six aircraft, the day in its edition of October 15, 2019.

According to the newspaper, "the government does not have the resources to finance the famous recovery plan proposed by the American firm Boeing Consulting".  "Nobody talks more about Boeing's plan here, we're fighting for survival.

 Source: Cameroon-Info.Net