Page 66 - World Airnews Magazine May Edition 2021

NEWS

AIRLINE ASKY REMAINS

DETERMINED

By Nelly Fualdes
Despite these difficulties, and even though the IATA warns
that the sector will probably not return to normal until 2024, the
In July 2020, the Ivorian government, which owns 58% of the company’s management refuses to give up. And, while waiting for
national flag carrier, gave 14bn CFA francs (US) $25.7m to Air Côte possible aid from public authorities and financial development
d'Ivoire to help it cope with the Covid-19 crisis. institutions, Asky has sought help from its shareholders.
In Dakar, the government allocated (US) $81.9m (€68m) to Several institutions are considering offering aid to Asky. These
national airline Air Sénégal, which is 100% state-owned. include Ethiopian Airlines, Ecobank, West African Development
However, Lomé, where Asky is based, did not provide the Bank and the ECOWAS Bank for Investment and Development,
‘pan-African company’ with any money. As it is a privately owned which each own 18% of the company. Several private investors
company, Asky is left to its own devices in times of crisis. – most of whom are African, including the South African investor
However, it has sought help from the World Bank, African Sakhumnotho Group Holdings, which was founded in 2000 to
Development Bank (AfDB) and several banks. support the “Black Economy” – may also offer financial support.
“We knocked on all the doors, undertook all possible and
imaginable steps, but we haven’t yet found a solution,” said Nowel AGILE, BUT WEAKENED
Ngala, company commercial director. “Because of its private status, Asky is incredibly agile. Unlike Air
Côte d’Ivoire or Air Senegal, where 20 people have to agree to any
FIVE MONTHS OF QUIET change, Asky can change its strategy overnight. When the situation
However, Asky has indeed - like its colleagues on the continent demanded that it switch to cargo or stop serving South Africa all
- been hit by the health crisis, which has severely impacted the of a sudden over fears of its variant, it did so,” says an industry
entire global airline industry. According to the International Air observer.
Transport Association (IATA), although African companies have Consultant Sylvain Bosc, who advises several African states
demonstrated the greatest resilience in the world, their revenue and international financial institutions, says: “Asky has a business
per passenger-kilometre fell by 63.9% between January 2019 and model that is very well adapted to the region’s needs and has
January 2021. been managed prudently until now. It connects West and Central
The African Airlines Association (AFRAA) estimates that the Africa.” He previously worked for Corsair, South African Airways
continent lost (US) $10bn over the course of 2020. and Qatar Airways.
As for Asky, after almost no activity between March and August Convinced that “this fine company deserves better than
2020 - during which only charter operations for the UN in West bankruptcy,” he nevertheless worries about its ability to
Africa took place, which involved mobilising three aircraft from overcome the crisis “as all its competitors are or will be largely
Accra as well as cargo flights to bring Covid support equipment supported by their respective shareholder countries.”
to West Africa - the company has recorded a timid recovery,
operating at 27% capacity in September and October. FUNDS FOR STATE-OWNED AIRLINES
Abderrahmane Berthé, who is at the head of AFRAA, is trying to
REQUEST TO SHAREHOLDERS convince governments and development finance institutions to
“We also had to adapt to the anti-Covid protocols put in place by provide support to both private and public operators. “Providing
financial support to the sector will ensure its survival,” he says,
various countries, review our flight plans according to the curfews calling for subsidies, loans and loan guarantees, share issues, as
introduced, reduce our number of flights to certain countries well as deferring or waving airlines’ debts, rent, charges and taxes.
in order to respect their guidelines, such as Cameroon, Gabon
and Nigeria… It wasn’t easy,” said Asky’s Ngala, who recently “For the moment, despite our calls to support private
announced that activity fell by 48% from 2019’s levels. companies, the only funds released so far have come from

World Airnews | May Extra 2021
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