Korongo Airlines (Lubumbashi) is looking for new investors to help revitalize the carrier. Founded in 2012, Korongo is a joint venture between Brussels Airlines (SN, Brussels National) parent SN Airholding (40%), Groupe George Forrest International (GFI) (36%), with the remaining 24% held by local Congolese businessmen.
Belgium's De Redactie newspaper reports a share capital increase will help the Lubumbashi-based carrier to raise funding to expand and consolidate its operations ahead of the entry of state-backed national airline Congo Airways (8Z, Kinshasa N'Djili) and other recent entrants into the scheduled-operators sector such as BlueSky Airlines (DR Congo) (Kinshasa N'Djili).
The report says that among the entities that has expressed a keen interest in becoming a shareholder is Ethiopian Airlines (ET, Addis Ababa International) which has long sought to use Congo to act as its Central African feeder hub.
Though Korongo had originally operated two BAe 146-200s and a B737-300 wet-leased from Brussels Airlines, the former have since been withdrawn leaving the carrier with a single aircraft - OO-LTM (msn 25070). Past plans to boost its fleet and network have reportedly been deferred time and time again after SN Airholding refused to inject any further funds citing Korongo's poor financial performance.
As such, it currently serves Kinshasa N'Djili and Mbuji Mayi locally as well as Johannesburg O.R. Tambo regionally.
