The national airline of Equatorial Guinea, Ceiba Intercontinental, has faced significant financial difficulties for nearly a decade. These problems were exacerbated by internal misconduct, notably the illegal sale of an aircraft by one of the president’s sons, Ruslan Obiang Nsue.
Accused of misappropriation of public assets related to the disappearance of an aircraft in 2022, Ruslan Obiang Nsue was sentenced to six years in prison. However, his sentence could be suspended if he reimburses approximately USD 255,000 to the airline, in addition to paying fines and compensation to the state.
To address the airline’s situation, the government decided in March 2024 to consider two solutions: privatization of Ceiba Intercontinental or its liquidation to create a new entity. Airlines such as Ethiopian Airlines and Lufthansa were approached as part of the privatization process. These measures aim to overcome operational challenges and increased competition in the region.
