Business News of Wed, 12 Sep 20181
Government to float shares in national airline on GSE
The Minister of Aviation, Mr Kofi Adda, has announced the government’s intention to float shares in the soon to be established national carrier, on the Ghana Stock Exchange (GSE).
He said while the government had not decided its percentage of shares in the carrier, it was looking at between 10 and 15 per cent, in line with international benchmarks, and would sell out the rest to strategic investors.
Mr Adda was speaking to the media during a familiarisation tour of the Ghana Airports Company Limited (GACL) and the newly constructed Terminal 3 at the Kotoka International Airport on September 8, this year.
“I think a good idea is to float some of those shares on the GSE, where you and I can buy and we’ll also own it,” he said.
Mr Adda said the government was still assessing the offers it had received from Ethiopian Airlines, Air Mauritius and Abu Dhabi Airlines to act as strategic partners in the establishment of the home-based carrier and would announce the decision once the proposals were reviewed.
He explained that a board with the representation from all shareholders would be in place to run the carrier efficiently.
“It won’t be the old fashioned national carrier such as Ghana Airways, 100 per cent owned by state, that you and I working for that carrier can bring our family, get discounts tickets or bring our baggage free; that will not happen anymore; you can be a minister but you must pay,” he said.
Mr Adda said his vision as the sector minister was to work to realise the vision that had been tabled by the two main agencies; the Ghana Civil Aviation Authority and the GACL and to make the aviation sector the best performing in the sub-region.
“We want to be the top sector in the region, we want to maintain our lead in terms of civil aviation; we want the professionalism and efficiency from the airport management,” he said.
He added that ensuring efficiency will make Ghana’s aviation sector competitive and attractive.
He commended the GACL after the tour of the T3 facility, saying it was top-class comparable to any in the world, with the appropriate signs to help passengers find whatever services they needed, and urged those who would use it to help maintain it.
The Managing Director of the GACL, Mr John Attafuah, who led the minister and his delegation on the tour, said the GACL had begun operational tests on Terminal 3 to ensure it operated as expected.
New terminal begins operations
Departure flights from the Terminal began on Monday, September 3, 2018 with four flights and the first arrivals on Friday, September 7.
Prior to that, Mr Attafuah said the GACL had conducted several tests, including a total of about 36 simulations at the facility.
“So far, all our systems have worked as we had expected and we are confident that come the 15th of this month, when we go live from here, we should not have any problems and challenges,” he stated.
The 275 million-dollar project is expected to be inaugurated and put into full use by mid-September 2018, and would see the arrival of the iconic Airbus A380 to the terminal, by Emirates Airlines, on the 2nd of October.