Korongo Airlines – national airline of the Democratic Republic of the Congo – has announced plans to dissolve the company.
This comes after it was unable to reach profitability due to a lack of critical mass. Its operations are based on a fleet of only one aircraft, which does not offer sufficient possibilities to amortise the fixed costs of an airline operation respecting all international safety standards.
Founded by Airbel (Brussels Airlines and George Forrest) and some small private Congolese shareholders, Korongo Airlines started operations in 2012. The portfolio of clients has grown over the past three years, and flights between Kinshasa and Lubumbashi; Lubumbashi and Johannesburg; and Lubumbashi, Mbuji Mayi and Kinshasa have achieved load factors of more than 70%.
Korongo Airlines management and stakeholders conducted discussions with potential partners to find the necessary funds to develop the airline’s activities; however the investors withdrew from the project, partly due to government’s plans to create a new airline alongside Korongo Airlines.
Source: eTNW
DRC airline to be dissolved
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