Adria Airways, XL Airways, Aigle Azur and Thomas Cook have all declared bankruptcy this month following weeks if not months of financial struggles. However, heavy debt and losses are not limited to Europe, with Cameroonian flag carrier, Camair-Co facing similar issues. However, things are getting better, a source tells AeroNewsX.
Following a catastrophic summer with more than half of the fleet grounded as a result of technical issues, Camair-Co’s fight to survive has not been easy. At an event in Montreal, Cameroon’s Ministry of Transport attracted a peculiar investor for its national airline.
Camair-Co’s fleet is very much outdated and the need to replace the aircraft has never been greater. The airline has expressed interest in the Airbus A220 family, formerly the Bombardier C Series program. The aircraft has been designed to operate on the regional/short-medium haul sectors with less capacity than modern-day medium-haul airliners such as the Airbus A320 or Boeing 737.
However, these plans have been around for a while. There is one major problem – Camair-Co, despite being government-funded, does not have enough money to pursue its growth projects. The Qatari Minister of Transport began discussions with the Cameroonian delegation in Montreal on September 25 regarding a possible investment to allow it to rebuild and renovate its fleet. A source within the airline tells AeroNewsX that a Qatari delegation is expected to arrive in Douala later this week to evaluate and hopefully follow through with a deal.
While Camair-Co continues to struggle, its future is looking better and better. The majority of the fleet was grounded this summer and therefore the airline saw a dramatic increase in overall expenses. However, the industry in Africa is growing at a rapid pace, as we saw at the IATA Regional Aviation Forum in Africa in Nairobi, Kenya, earlier this month. What’s to come for Camair-Co is uncertain, but for all we know, things don’t seem to be getting any worse.