(Bloomberg) -- Burundi will relaunch a state-owned airline next year, more than a decade after the failure of its erstwhile carrier, Air Burundi.
The state will hold a 92% stake in Burundi Airlines, which will be the latest carrier to enter East African skies after the introduction of Uganda Airlines and the revamping of Air Tanzania Co. A Belgian company will take a 4% stake and the rest will belong to state-owned insurer Societe d'Assurances du Burundi, or Socabu, according to a cabinet statement.
The airline will be formed through the merger of Sobugea, an agency that runs the country's airports, and Air Burundi, which has not operated a plane since 2009.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
