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12/02/12, 13:17:10 EST
Today's News
Senegal retakes control of airline from Air Marocreuters.com Senegal's government has retaken control of the West African nation's flag carrier Air Senegal from Royal Air Maroc, following financial losses suffered by the Senegalese airline, the transport ministry said on Wednesday."The state has decided to take back the running of Air Senegal International ... We will proceed with a recapitalisation and the state will have 75 percent," Yoro Sarr, adviser to the minister, told Reuters. Air Senegal International was formed in 2000 as an affiliate of the Moroccan flag carrier Royal Air Maroc, which held a controlling 51 percent stake in the Senegalese airline. Sarr said Air Senegal had accumulated losses of 12.9 billion CFA francs, including 11 billion CFA francs in 2006 alone. He attributed this to management problems, among others. 
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published Oct 31, 2007
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