Zambia is to relaunch its national airline after 24 years without a flag carrier following a deal with Ethiopian Airlines that will see $30 million invested in the new venture. The announcement, made on Monday, marks Ethiopian Airlines' growing role in aviation across Africa as it looks to cement its position as the continent's largest airline by revenue.
The carrier from Africa's second most populous country already has interests in the airline of Malawi and Togo-based private carrier ASKY, and has signalled its desire to help establish nascent state-run carrier Nigeria Air. "The initial investment as we start up the national carrier will be $30 million (26 million euros). It is expected that the new airline will operate 12 aircraft and carry over 1.9 million passengers by 2028," said a statement jointly issued by Zambia's Industrial Development Corporation (IDC) and Ethiopian Airlines.
Zambia Airways was liquidated in 1994 when vice president Godfrey Miyanda took to state TV to announce the airline's demise. "As strategic partners on the national airline project of Zambia, IDC will hold 55 percent equity in the carrier, with Ethiopian Airlines holding 45 percent," added the statement.
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