Air Cote d’Ivoire augments fleet: As it records widespread growth in 3 years
With a relatively short period of existence, Air Côte d'Ivoire – the Ivorian national flag carrier – has grown its revenues by 24 per cent from CFA France 26.98 billion (approximately US$44.55 million) in its inaugural year 2013 to FCFA76.01 billion (approx. US$125.61 million) at the end of last year.
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The airline also grew in many other areas: its fleet, routes, market share and passengers transported, staff strength, as well as capitalisation and number of investors.
The Chief Executive Officer of Air Côte d'Ivoire, Mr René Decurey, disclosed this at the airlines' hub in Abidjan where they hosted over 30 journalists from their destinations to witness the delivery of a new aircraft to augment their fleet.
The arrival of the US$35 million New Generation Bombardier Dash 8, Q400 series, brings to four the number of the more agile and cost-effective Bombardier aircraft within the Air Côte d'Ivoire fleet.
What it means for West Africa
Mr Decurey said at a media encounter that the new aircraft which was faster, comfortable, fuel efficient and rugged in the air, would enable the airline (which is expanding its domestic and regional routes in 2016) to strengthen services to existing and new destinations.
"This is a necessary step to support the network of Air Côte d'Ivoire and also help us in our future expansion," Mr Decurey stated.
For example, the airline plans to double its Abidjan-Accra route with morning and evening return flights to enable passengers connect the two cities and exercise the choice of not sleeping over.
Air Côte d'Ivoire also plans to add four new regional destinations to the existing 18, and the flexibility enhancing Canadian Bombardier is key to that drive.
Widespread growth
Air Côte d'Ivoire came into being under the inspiration of the Ivorian President, Mr Alassane Ouattara in May 2012. It officially started operations in January 2013 with three aircraft and by the close of that year Air Côte d'Ivoire had developed 13 destinations.
The government of Côte d'Ivoire owns 65 per cent; Air France, the strategic partner, owns 20 per cent, with Goldenrod, an Ivorian private equity company, holding 15 per cent.
Similarly, the airline grew its capital base steadily from FCFA25 billion (about US$40 million) from inception to FCFA65 billion (about US$107 million) at the end of last year.
The airline just secured a new investor, the West Africa Development Bank, which will inject FCFA35 billion to increase total capitalisation to FCFA100 billion (about US$165 million) at the end of this year.
For now, Air Côte d'Ivoire is in the growth stage and airline officials are poised to continue the steady patient expansion until somewhere 2018 when the airline expects to make profit or, in the minimum, break even.
Transport Minister and the Chairman
The Minister of Transport, Mr Gaoussou Toure, was excited that the airline had grown out of government guarantees which it utilised in its first year of operation, by establishing its own credibility as a creditworthy customer in the market place.
Mr Toure bemoaned the frequency with which too many such infant companies collapsed in Africa and, therefore, commended the Ivorian President's personal commitment to the success of the airline.
Currently, Air Côte d'Ivoire has the largest share of passengers travelling through Abidjan to any of its destinations. This market share has been increasing from 42 per cent in 2013, 64 per cent in 2014 and 78 per cent in 2015 of passengers departing from Abidjan.
Here to stay
The Chairman of the airline’s Board of Directors, General Abdoulaye Coulibaly, said the airline was in furtherance of the integration agenda of the West African sub-region and, therefore, Air Cote d’Ivoire would continue to explore for more opportunities on the continent.
In order to beef up staff of the airline with critical skills, it is training manpower, including 14 pilots and other aeronautic engineers and technicians to fill any gaps in skills as the airline grew its wings some more.
Currently, Air Cote d’Ivoire’s 482 permanent staff includes 63 pilots, 137 flight attendants, 32 technicians and 252 ground staff. — GB