21-Aug-2018 15:59 PM
Ethiopian Airlines and Zambia& # 39; s Industrial Development Corporation (IDC) signed (19 August 2008 – 2018) a shareholder agreement to re-launch Zambia Airways. IDC will hold 55% equity in the courier, while Ethiopian Airlines will own 45%. The companies expect an initial investment of USD30 million, with plans to facilitate the necessary financing to support growth. It is expected that Zambia Airways will operate a fleet of 12 aircraft and will carry more than 1.9 million passengers by 2028, while the domestic and international network will include Europe, the Middle East and Asia. Ethiopian Airlines commented: "As a native and truly pan-African airline, we believe that African airlines will only receive a fair share of the airline industry and the African market through partnerships with other African airlines." Zambia Airways is expected to become operational in 2018. [more – original PR]
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