Air Côte d'Ivoire takes delivery of two A319 aircraft

The Paris office of international law firm Stephenson Harwood, has advised new client, Air Côte d’Ivoire (ACI), on the delivery of two A319 aircraft. Air Côte d’Ivoire is a new African start-up airline based in Abidjan, Côte d’Ivoire. Formed on 15 May 2012, ACI is a joint venture between the government of Côte d’Ivoire (65%), Air France (20%), and Aérienne de Participation-Côte d’Ivoire (15%) – an airline holding company of the Aga Khan Fund for Economic Development (AKFED). The airline will follow international routes, primarily to and from Central and West Africa initially, and domestic routes at the end of 2012. ACI is the Côte d’Ivoire’s only national carrier, following the collapse of Air Ivoire in March 2011. ACI will operate with two A319s with the first aircraft being a direct lease from Macquarie AirFinance, and the second aircraft on lease from Macquarie AirFinance to Air France, subleased to ACI. The aviation finance team in Paris advised ACI on the leasing aspects of both deliveries, the first of which took place the 5 October with the second delivery 22 October.