Ethiopian Airlines acquires 45 percent of Zambia Airways

Ethiopian AirlinesEthiopian Airlines

Ethiopian Airlines on Tuesday announced that it has finalized shareholders agreement with the Government of Zambia to acquire 45 percent of Zambia Airways.In a statement it released on Tuesday, the Ethiopian Airlines said the governments of the two African nations have agreed to re-launch of Zambia Airways and the Government of Zambia will be the majority shareholder with 55 percent and Ethiopian will have 45 percent stakes in the airline.

“In line with our Vision 2025 multiple hubs strategy in Africa, we are very happy that the discussions with the Zambian government have been crowned with success. The launching of Zambia Airways will enable the traveling public in Zambia and the Southern African region to enjoy greater connectivity options, thereby facilitating the flow of investment, trade and tourism, and contributing to the socioeconomic growth of the country and the region. Mr. Tewolde Gebremariam, Group CEO of Ethiopian Airlines said.

“As an indigenous and truly Pan-African airline, we firmly believe that it is only through partnerships among African carriers that the aviation industry of the continent will be able to get its fair share of the African market, currently heavily skewed in favor of non-African airlines, and play its rightful role in availing efficient air connectivity within Africa as well as with the rest of the world,” he added

The establishment of multiple hubs in Africa being an overarching strategy of Ethiopian under its Vision 2025, the national flag carrier currently operates hubs in Lomé (Togo) with ASKY Airlines and Malawian in Lilongwe (Malawi).

With seventy plus years of operation, Ethiopian Airlines (Ethiopian) claims to have become one of the continent’s leading carriers, unrivaled in efficiency and operational success., commanding the lion’s share of the pan-African passenger and cargo network operating the youngest and most modern fleet to more than 100 international passenger and cargo destinations across five continents.