Ethiopian Airlines Acquires 49 Percent of Chad National CarrierBy Staff ReporterAugust 24, 2018 - Ethiopian Airlines has signed a joint venture agreements with the government of Chad to launch Chad National Carrier with Ethiopian having 49 percent stake in the business and the Government of Chad retaining 51 percent. The new Chad National Carrier is set to go into operation on October 1, 2018. “The strategic equity partnership in the launching of the new Chad national carrier is part of our Vision 2025 multiple hub strategy in Africa, Tewolde Gebremariam, Group CEO of Ethiopian Airlines," said on Friday in a statement. Ethiopian commands the lion’s share of the pan-African passenger and cargo network to more than 116 international passenger and cargo destinations across five continents. The state run Airlines earned record high net profit of 6.87 billion Birr ($229 million) during the past Ethiopian fiscal year which ended on July 8, 2018.

Source: Ethiopian News August 24, 2018 19:18 UTC