#Qatar Airways to Buy Rwandair Stake to Gain African Foothold - Bloomberg

Qatar Airways to Buy Rwandair Stake to Gain African Foothold - Bloomberg:

Qatar Airways plans to purchase a 49% stake in Rwanda’s national carrier, stepping up its presence in the market weeks after taking a majority holding in the African country’s new airport.

The Gulf airline is investing in Rwandair after identifying Africa as a market with significant potential, Akbar Al Baker, its chief executive officer, said in a briefing at the CAPA Qatar Aviation conference on Wednesday. The holding being negotiated will be its first in the continent after a string of deals elsewhere.

Qatar Airways agreed in December to acquire a 60% stake in Rwanda’s new Bugesera International Airport, located south of the capital Kigali, where an existing hub is at full capacity. As part of the deal, the Gulf carrier will help build and run the $1.3 billion facility.

“It will be a very efficient hub in a very stable country in the heart of Africa,” Al Baker said. “And we’re going to take a stake in their national carrier because we see that Africa is another region that has huge growth potential.”