ETHIOPIAN Airlines, the biggest air carrier in Africa, has announced the launch of Zambia's National Carrier in a joint venture with Industrial Development Corporation Limited (IDC), reports the American Journal of Transportation.
ethiopian has 45 per cent stake in the joint venture while Industrial Development Corporation Limited (IDC) retains 55 per cent, the shareholders have contributed US$30 million in capital towards the establishment of the airline.
The new Zambia Airways (ZN) is to join African sky with its initial domestic flight from Lusaka to Ndola and it will operate at a frequency of six and five times a week to Ndola and Livingstone.
Other domestic routes to Mfuwe and Solwezi will follow before introducing regional destinations, to Johannesburg and Harare, to its network within the first quarter of 2022.
Said Ethiopian Airlines CEO Tewolde GebreMariam: 'The strategic equity partnership in the launching of Zambia's national carrier is part of our Vision 2025 multiple hub strategy in Africa.
'Ethiopian is committed to its growth plan in collaboration with African carriers and the new Zambia Airways will serve as a strong hub in Central and Southern Africa availing domestic, regional and eventually international air connectivity for passengers and cargo to the major destinations in the Middle East, Europe and Asia,' he said
Through its multiple hubs strategy in Africa, Ethiopian currently operates hubs in Lome (Togo) with ASKY Airlines, Malawian in Lilongwe (Malawi), Tchadia in N'Djamena (Chad) and Ethiopian Mozambique in Maputo (Mozambique) while having the already acquired stakes in Guinea's and Democratic Republic of Congo's national carriers, he said.
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ethiopian has 45 per cent stake in the joint venture while Industrial Development Corporation Limited (IDC) retains 55 per cent, the shareholders have contributed US$30 million in capital towards the establishment of the airline.
The new Zambia Airways (ZN) is to join African sky with its initial domestic flight from Lusaka to Ndola and it will operate at a frequency of six and five times a week to Ndola and Livingstone.
Other domestic routes to Mfuwe and Solwezi will follow before introducing regional destinations, to Johannesburg and Harare, to its network within the first quarter of 2022.
Said Ethiopian Airlines CEO Tewolde GebreMariam: 'The strategic equity partnership in the launching of Zambia's national carrier is part of our Vision 2025 multiple hub strategy in Africa.
'Ethiopian is committed to its growth plan in collaboration with African carriers and the new Zambia Airways will serve as a strong hub in Central and Southern Africa availing domestic, regional and eventually international air connectivity for passengers and cargo to the major destinations in the Middle East, Europe and Asia,' he said
Through its multiple hubs strategy in Africa, Ethiopian currently operates hubs in Lome (Togo) with ASKY Airlines, Malawian in Lilongwe (Malawi), Tchadia in N'Djamena (Chad) and Ethiopian Mozambique in Maputo (Mozambique) while having the already acquired stakes in Guinea's and Democratic Republic of Congo's national carriers, he said.
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