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Air France to up stake in ailing Air Afrique

Air France to up stake in ailing Air Afrique investment Air France is discussing a cash injection into near- bankrupt Air Afrique in a move that will see the carrier wound-up and subsequently relaunched. At crisis talks attended by several presidents of Air Afrique's 11 member states, it emerged that Air France could take a 35% stake, up from 11.8%. The governments of Benin, Burkina Faso, Central African Republic, Congo, Cote D'Ivoire, Mali, Chad, Mauritania, Niger, Senegal and Togo will retain 22% and staff 5%, with the remainder for other investors. Air Afrique chief executive Jeffrey Erikson, who is relinquishing his post, says a new Air Afrique would need $70 million.

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