Togo: Asky takes delivery of wide body Boeing passenger jets

Lome-based Airline Asky welcomed September 1 two new passenger jets for long haul flights, days after the company added the State of Togo to its shareholders.

The jets, both 727s, add to current 13 aircraft making up the Ethiopian Airlines-backed airline’s fleet.

The delivery occurred few days after the company added the Togolese state to its cap table after the administration led by President Faure Gnassigbe injected nearly $10 million in the coffers of the company in exchange for 14.39 per cent of the company’s shares.

The investment will provide oxygen to the airline that has been losing money owing to the pandemic and the ongoing crisis between Russia and Ukraine. Over the 2020-2022 period, when the pandemic hit hard the world, ASKY reportedly lost $3.5 billion.

“It is a strong signal to national and international investors of our commitment and the Head of State’s determination to support the private sector, and to create an investment-friendly environment and strengthen regional economic integration”, explained Togolese Finance minister Sani Yaya.

The airline currently flies to 27 destinations. It will from October 1st start flying to the Kenyan capital Nairobi.