Ethiopian becomes strategic partner of Malawi Airlines

Updated 17 July 2013
0

Ethiopian becomes strategic partner of Malawi Airlines

Ethiopian Airlines, described as the fastest growing airline in Africa, announced that it has become the “strategic partner” of the new Malawian airline with 49 percent equity shareholding.
The remaining 51 percent of the shares will be held by the Malawian government and private investors.
The shareholder agreement for Malawi Airlines was signed between Cornelius Mwalwanda, Malawi’s deputy minister of finance, and Ato Tewolde Gebremariam, CEO of Ethiopian in Lilongwe on July 11.
This new partnership with Malawi Airlines is part of Ethiopian Vision 2025 strategic roadmap of setting up multiple hubs in Africa.
Through this strategic partnership with Malawian Air, Lilongwe will become Ethiopian’s third hub on the continent after its main hub in Addis Ababa and its West Africa in Lomee.
“The new agreement we have just signed with the government of Malawi is a model for the type of African cooperation that is needed in the 21st century. It is a win-win partnership aimed at enabling the success of African aviation in a capital intensive, skill-driven and highly competitive industry,” the Ethiopian Airlines stated.
Today, Africa is booming and, with the economic growth of the continent, demand for air travel is also growing at a much faster pace than the global average.
This growing demand and the uneven competition from foreign carriers, which currently dominate the African market, cannot be overcome by one single African airline.
For indigenous African airlines to succeed and get their fare share of the market, partnerships between African airlines are a must, said Ethiopian Airlines, which is first and foremost a Pan-African airline serving Africa in good and bad times for close to seven decades bringing Africa together and closer to the world.


King Abdullah Port throughput up by 36%

The number of vessels received by the port increased to 911 vessels, a 12 percent increase compared to 820 vessels in 2017.
Updated 21 January 2019
0

King Abdullah Port throughput up by 36%

The annual throughput of King Abdullah Port increased to 2,301,595 TEUs by the end of 2018, an increase of more than 36 percent compared to 2017. This maintains its position as the second largest port in the Kingdom in terms of container handling. 

Since its inception in the last quarter of 2013 the number of containers handled by the port has reached 7,227,859 TEUs. The port’s management stated that the annual increase in throughput was primarily achieved in conjunction with an 8 percent increase in imports and exports compared to 2017.

King Abdullah Port CEO Rayan Qutub said: “King Abdullah Port constitutes a real success story in public-private sector partnerships in light of the increasingly outstanding figures it achieves year after year. The port has become the leading driver in the maritime shipping and logistics services sector in terms of building knowledge, launching initiatives and supporting various activities in this sector.”

He added: “King Abdullah Port aspires to support the Kingdom’s economic development and enhance its competitiveness by increasing the efficiency of logistics services and supporting trade movement between the Kingdom and the rest of the world in line with Vision 2030. The latter would occur through the provision of state-of-the-art infrastructure and advanced logistics services to become a landmark on the maritime and logistics services map in the Kingdom and the region.”

Referring back to the 2018 results, Qutub said: “We achieved a record 50 percent increase in container handling in the first half of 2018, and we are moving forward with our development plans to provide best practices in the fields of port development and operation as well as supporting logistical services. This will increase the Kingdom’s competitive advantage on the logistics services index, and in turn effectively contribute to achieving the logistical objectives of the Kingdom’s Vision 2030.” 

The results achieved by King Abdullah Port in 2018 include an increase in transshipment volume reaching 1,847,569 TEUs, which is a 44 percent increase compared to 2017. Meanwhile, the number of vessels received by the port increased to 911 vessels, a 12 percent increase compared to 820 vessels in 2017. 

The port features state-of-the-art facilities including 18-meter water berths, which are the deepest in the world, and the world’s largest and most advanced cranes, which employ the latest technology and feature a 65-ton lifting capacity as well as a handling capacity of 25 containers. Such facilities enable the port to serve giant container vessels now and in the future.