Business
Ethiopian Airlines expands – acquires 49% of Malawian Air
Ethiopian Airlines – Africa’s fastest growing carriers has has acquired 49 percent equity shares in the new Malawian Air, becoming a major strategic partner of the carrier.
The remaining 51 percent of the shares will be owned by the Malawi government and private investors in a public-private partnership.
Both parties signed a shareholder agreement July 11, 2013, where Cornelius Mwalwanda, the Deputy Minister of Finance of the Government of Malawi represented Malawian interestes and Ato Tewolde Gebremariam, the CEO of Ethiopian Airlines.
The new partnership allows Ethiopian Airlines and newly formed Malawi Airlines to harmonize their flight schedules to provide more options for travelers within to and from Southern Africa.
The partnership is part of Ethiopian Airline’s Vision 2025 strategic roadmap of setting up multiple hubs in Africa. Ethiopian Airlines is on course to set up hubs in all regions of the continent and to become the leading aviation group in Africa, generating over US$10 billion in annual revenue by 2025.
Through this deal with Malawian Air, Lilongwe (in Malawi), will become Ethiopian Airline’s third hub on the continent after its main hub in Addis Ababa and its West Africa hub of Lomé (in Togo).
Ethiopian Airlines also owns 40 percent of ASKY Airlines of Togo since its establishment.
