BOAD Approves $49.5M Loan for Air Côte d'Ivoire’s Airbus Purchase
TLDR
- The West African Development Bank (BOAD) has approved a loan of 30 billion CFA francs ($49.5 million) to Air Côte d'Ivoire
- The new aircraft will support the airline’s long-haul expansion, with planned routes to Paris, Geneva, London, Beirut, New York, and Washington
- The expansion is expected to create over 2,160 jobs, both direct and indirect, and generate 30.9 billion CFA francs ($50.9 million) in annual added economic value
The West African Development Bank (BOAD) has approved a loan of 30 billion CFA francs ($49.5 million) to Air Côte d'Ivoire to finance the purchase of two Airbus A330-900 Neo aircraft. The financing is part of a broader 391.9 billion CFA francs ($646.9 million) package approved for fifteen new projects during the bank's 145th board session.
The new aircraft will support the airline’s long-haul expansion, with planned routes to Paris, Geneva, London, Beirut, New York, and Washington. The goal is to position Abidjan as a regional aviation hub, similar to Lagos and Addis Ababa.
The expansion is expected to create over 2,160 jobs, both direct and indirect, and generate 30.9 billion CFA francs ($50.9 million) in annual added economic value. Tax revenues from the new activity are projected to reach 3.2 billion CFA francs ($5.3 million) annually.
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Key Takeaways
Air Côte d'Ivoire’s latest investment signals a shift toward long-haul competitiveness. With BOAD funding in place, the airline aims to diversify revenue and reduce reliance on regional routes. The addition of Airbus A330-900 Neo aircraft expands its capacity for intercontinental destinations and supports broader infrastructure growth in Abidjan. Economic projections of the expansion include thousands of direct and indirect jobs across aviation, logistics, and tourism. Higher tax intake related to ticketing, employment, and airport operations is also expected to benefit government revenues. In 2023, Air Côte d'Ivoire turned a profit, among the few African airlines to do so, aided by cost controls and a 52% market share. With this new phase of investment, the company is positioning itself as a long-term player in West Africa’s aviation sector. The outcome will depend on route profitability, fuel costs, and geopolitical factors affecting intercontinental demand.
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