Two foreign firms involved in the aviation industry, Tryaton of Switzerland and T&E, a Lebanese company have proposed to bail out the ailing National carrier – Ghana Airways. The companies are proposing to provide a fleet of airplanes, cash and management support to Ghana Airways as part of efforts to resuscitate the airline. T &E is seeking a five-year mandate to turn round the fortunes of the airline, while the Swiss competitor is seeking a three-year mandate.

JOY FM has learnt that T&E, which has some Ghanaian interests, is emerging favourite to enter a joint venture deal with the airline. Tryaton is however working to turn the tables in its favour.

The decision to seek a joint venture partner for Ghana Airways became necessary after the sole owner – the Ghana government failed to provide the $80 million demanded by the airline to pay off part of its $150 million debt and restructure its operations.