Ethiopian partners in launching of Chad national carrier
Addis Ababa, August 24, 2018 (FBC) -Ethiopian Airlines (Ethiopian), announced today that it has finalized agreements with the Government of Chad for the launch of Chad national carrier.
Ethiopian has 49 percent stake in the joint venture while the Government of Chad retains 51 percent.
The new Chad national carrier is planned to go into operation as of October 1, 2018, according to a press release the airlines sent to FBC today.
Mr. Tewolde GebreMariam, Group CEO of Ethiopian Airlines said “The strategic equity partnership in the launching of the new Chad national carrier is part of our Vision 2025 multiple hub strategy in Africa.
The new Chad national carrier will serve as a strong hub in Central Africa availing domestic, regional and eventually international air connectivity to the major destinations in the Middle East, Europe and Asia. I wish to thank His Excellency President Idriss Deby Itno, the Government of Chad and the stakeholders in the aviation sector in Chad for their strong support to the project.”
Through its multiple hubs strategy in Africa, Ethiopian currently operates hubs in Lomé (Togo) with ASKY Airlines and Malawian in Lilongwe (Malawi), while having the already acquired stakes in Zambia’s and Guinea’s national carriers and making preparations to launch Ethiopian Mozambique Airlines.
Ethiopian also this week signed a shareholding agreement with Zambia’s main development agency, Industrial Development Corporation (IDC), to relaunch the southern African country’s flag carrier at an initial cost of $30 million.
Ethiopian Airlines will own 45 percent of the Zambian airline, and Zambia 55 percent.