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Ethiopian Airlines to acquire 45 % share from Zambia Airways

Ethiopian Airlines - Zambia Airways
Source : EBC

December 25,2017

Ethiopian Airlines is poised to acquire 45 % share from Zambia Airways. Ethiopian state broadcaster, Ethiopian Broadcasting Corporation, cited Zambia’s acting Information Minister – Stephen Kampyongo – to report that Zambia will have 55 percent of share .

Zambian Airways is to have $16.5 million US grant to cover operational costs in the first year and hopes that its partnership with Ethiopian Airlines will make the newly established airlines a success story.

The report added that there will be no intervention of Zambian government in the operation of the airline. Ethiopian Airlines is one of the leading airlines in Africa with many African destinations.

It is to be remembered that Ethiopian Airlines borrowed huge sum of money from Chinese Bank for an “expansion project” and has recently placed order for many new aircraft.

In a related news, Ethiopia and Indonesia signed Air Service agreement this past week, according to update from Ethiopian Ministry of Foreign Affairs. As per the agreement, Ethiopian Airlines will be able to fly Jakarta.

The agreement was signed in Jakarta, Indonesia. Abdisa Yadeta, Minister of Transport, and Mr. Sugihardijo; First Secretary of the Ministry of Transport of Indonesia, signed the agreement.

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