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17.08.2004 Business & Finance

Anane leads discussion on Ghana Airways negotiations

Anane leads discussion on Ghana Airways negotiations
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Accra, Aug. 17, GNA - Ghana International Airlines (GIA) and the Government are discussing a Memorandum of Understanding that would pave the way for GIA to take between 25 per cent and 30 per cent of the shares of the national carrier, Ghana Airways.

Dr Richard Anane, Minister of Roads and Transport, is leading the Government's Delegation while Mr Ralph Atkin, Founder of Sky West Airlines of US, is leading the GIA Team.

A source at the Ministry of Transport told GNA that GIA would bring in equipment, aircraft and management expertise while the State retained 70 per cent of the shares.

The intervention of GIA is about the fifth company to have been mentioned in the negotiations of a take over of the Airways and it has come with newer dimensions where it will bring equipment and efficient management skills.

Ghana Airways has been recently embroiled in a management crisis in which a number of passengers have been left stranded both at home and abroad as well as having its aircraft seized in the US. Ghana Airways currently has four aircraft, including the one under seizure.

Government recently said it was taking over the 160 million dollars debt incurred by the National Carrier as a means of putting it on a sound financial footing.