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26.08.2004 Business & Finance

No Progress In talks Over Ghana Airways

By pana.
No Progress In talks Over Ghana Airways
Reports say Ghana Airways appears to be back at the beginning of the runway, as preliminary negotiations with a strategic investor have been suspended. The team appointed by the government to run the company has reportedly rejected proposals by American-based Ghana International Airlines, GIA, because of what have been called poor terms.
GIA was said to be demanding up-front equity of seven-million dollars from the Ghanaian government without putting any money into the deal.
Sources said they had backed down to proposing an up-front equity of one-point-two-million dollars.


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