(Agence Ecofin) – The impacts of Covid-19 have aggravated the operating difficulties of several airlines. Some being overwhelmed by cash flow problems and the low flow of their traffic, resign themselves and go into collective proceedings.
The shareholders of Tchadia Airlines announced on August 4, 2022 the official liquidation of the only national air carrier, following a general meeting held at the end of July. They motivated this decision by the losses recorded by the company in 2019, 2020 and 2021, which significantly reduced the equity which “ have become less than half of the share capital “. The GA also shared ” the lack of prospects for recovery of activities ” of the society.
Chadia Airlines, created in joint venture with Ethiopian Airlines, operated a fleet of two 67-seat Dash-8s which allowed it to serve Bangui, Douala, Kano, Khartoum and Niamey, as well as other regional airports. The company started its flights in 2018, a year before the Covid-19 health crisis which paralyzed the global airline industry and hurt the cash flow of many carriers.
The dissolution and liquidation of the Chadian carrier comes after the company Mango, a low-cost subsidiary of South African Airways (narrowly rescued from bankruptcy), saw its operating licenses withdrawn for two years on August 3, 2022. , this for having suspended its flights for 12 months.
At the beginning of June, the experts appointed for the recovery of Comair (one of the largest airlines in South Africa) and its low-cost subsidiary Kulula had also announced the failure of attempts to restructure these companies, and introduced a legal request to transform the rescue procedure initiated into a request for liquidation.