Home / Business / CAMAIR-CO reduced its monthly deficit from CFA 2 billion to CFA62 million in a year

CAMAIR-CO reduced its monthly deficit from CFA 2 billion to CFA62 million in a year

Business in Cameroon

Ernest Dikoum, managing director of CAMAIR-CO, announced, during a press conference, held on November 24, in Yaoundé, that between August 2016 and July 2017, the Cameroonian airline company has reduced its monthly deficit by CFA1.9 billion.

Last year, in August 2016, when we were taking charge of the company, its operating deficit was around CFA2 billion. Once we canceled the flights to Paris and some other destinations, the deficit decreased to CFA840 million in January 2017. Thanks to cost controls and corporate governance, this deficit decreased to CFA62 million in July 2017“, Ernest Dikoum said.

He also explained that the company would have got positive returns if not for the CFA100 million accumulated every month for airplane’s engine rental. The managing director of CAMAIR-CO said that the company is now able to measure its performance every week.

Ernest Dikoum revealed that to reduce the deficit, CAMAIR-Co reduced its directorates from eleven to six. The company also reduced the number of employees from 734, in August 2016, to 595. Now they have five airplanes. “We have a 767-300 (le Dja), two new generation 737-700 and two MA-60“, Dikoum said.

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  1. Vaiocomputers

    You have just invited the zombies to come and feed.It will still collapse.The clock is ticking.

  2. Only a certified financial audit report can corroborate the figures presented by the GM.

    Camair-Co remains in a State Of Non-Declared Bankruptcy until proven otherwise.

    . Selected reasons:

    1.Bloated personnel
    2. Bloated salaries
    3.Leasing Aircraft with exorbitant lease rate and faulty leasing contracts
    4. Government interference
    5.High competition in the Airline Business
    6.POOR MANAGEMENT ( the most important reason)
    7. High rate of management turnover
    8.Hiring the wrong people
    9. flawed cost control
    10.The revenues of Camair-Co always lesser than the expenses
    11.Top Management with no Aviation background
    12. favouritism, nepositsm/tribalism, patronage
    13 Poor customer service
    14.Irregular flight Service

  3. Signs of liquidation and not deficit reduction. However, taxpayers money get this institution to survive. You can’t close your most lucrative line, cut down staff and call it positive measures.