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Kenyan Airways, Uganda Airlines in talks over interline, other deals

Published

1 year ago

June 30, 2023

Talks have commenced between Kenya Airways (KQ) and Uganda Airlines for interline and re-protection deals in an effort to expand access to several new locations.

KQ chief executive, Allan Kilavuka disclosed that the talks were at an advanced stage and would likely begin the transfer of passengers to one another’s networks.

“The talks are on but the timelines are as soon as we can agree and do the set-up. These (deals) fall within our partnership pillar, which is part of our strategy. It is also in line with our pan-African strategy,” said Mr. Kilavuka.

On its part, Ugandan Airlines says it wants to complete the agreement before the year is through in order to increase income.

“Conversations are ongoing with Kenya Airways for both interline and re-protection. A lot is going on between the two, and we hope to have an agreement by the end of the year,” Peggy Macharia, country manager of Uganda Airlines in Kenya, said.

Under an interline agreement, travellers can check in once for all of the flights on their itinerary, obtain boarding cards, and transfer luggage from the original airline without having to pick up and drop off the original airline’s baggage.

While a re-protection enables the airline to transfer its passengers to a rival carrier with whom they share a destination when it is unable to fly to a certain destination due to a mechanical issue or scheduling change.

Kenya Airlines has a public-private partnership structure, although the Kenyan government is the company’s largest shareholder (48.9%), while Uganda Airlines is 99.9 percent privately owned by an undisclosed individual or individuals, with the government owning just 0.0001% of the airline’s shares.

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Moroccan annual inflation rises to 0.8% in November

Published

5 days ago

December 21, 2024

Ifeoluwa Dada

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

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Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

Published

6 days ago

December 20, 2024

Ifeoluwa Dada

According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”