Camair-Co Boeing 737-700
On 30 September 2016, Camair Co, the Cameroonian public airline, currently on the brink of bankruptcy, held its 2nd extraordinary board meeting within two weeks. During these meetings, the pro-government daily reveals, the formulation of a new action plan, for the revitalisation of the company was discussed.
“The owner of the company would want in the very short term, Camair Co to be able to generate the income to finance its activity. We are in a very strategic period for the country’s economy, with major projects. The State cannot continually disburse substantial subsidies to support a company which has enough means. The State will not continue to inject money all the time without knowing exactly what is it used for”, specified Mefiro Oumarou, the new Chairman of Camair Co at the end of the 30 September 2016 meeting in Douala.
Indeed, since the start of its activities in 2011, the Cameroonian public airline has been surviving thanks to a continuous financial support from the State. As an example, we learned from reliable sources, the government gave Camair Co subsidies worth FCfa 31 billion between January 2015 and March 2016, 38% higher than the expected amount.
Which did not however enable this over-indebted company (over FCfa 35 billion at the beginning of the year) to put things right with regards to its performances, which are still sinking. According to our sources, indeed, for several months now, Camair Co has a monthly turnover fluctuating between FCfa 400 and 500 million, with monthly charges peaking at FCfa 5 billion, almost entirely supported by the public Treasury.
