Ethiopian Airlines announced that it has finalized preparations for the launch of Zambia’s National Carrier in a joint venture with Industrial Development Corporation Limited (IDC). Ethiopian has 45 percent stake in the joint venture while Industrial Development Corporation Limited (IDC) retains 55 percent, the shareholders have contributed USD30 million in capital towards the establishment of the airline. Other domestic routes to Mfuwe and Solwezi will follow before introducing regional destinations, to Johannesburg and Harare, to its network within the first quarter of 2022. Tewolde GebreMariam, Group CEO of Ethiopian Airlines remarked: “The strategic equity partnership in the launching of Zambia’s national carrier is part of our Vision 2025 multiple hub strategy in Africa. Through its multiple hubs strategy in Africa, Ethiopian currently operates hubs in Lomé (Togo) with ASKY Airlines, Malawian in Lilongwe (Malawi), Tchadia in N’Djamena (Chad) and Ethiopian Mozambique in Maputo (Mozambique) while having the already acquired stakes in Guinea’s and Democratic Republic of Congo’s national carriers.

Source: Ethiopian News November 30, 2021 21:43 UTC