Published — Wednesday 17 July 2013
Last update 17 July 2013 3:26 am
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.