BOAD takes major stake in West African airlines

The West African Development Bank (BOAD) has taken over ASKY Airlines and Air Cite d'Ivoire.

The bank announced at its AGM today in Dakar, Senegal that it is to invest $388 million in Air Cote d’Ivoire, the national airline of the Ivory Coast.
It also said that it had increased its shareholding in the Togo-based ASKY by more than $580 million.