Ethiopian Airlines, the fastest growing airline in Africa, is pleased to announce
that it has become the strategic partner of the new Malawian Air with 49% equity
shareholding. The remaining 51% of the shares will be held by the Malawian Government
and Malawian private investors.
The shareholder agreement for Malawi Airlines was signed between H.E. Dr. Cornelius
Mwalwanda, Deputy Minister of Finance of the Government of the Republic of Malawi
and Ato Tewolde Gebremariam, Chief Executive Officer of Ethiopian in Lilongwe on
Thursday, 11 July 2013.
This new partnership with Malawi Airlines is part of Ethiopian Vision 2025 strategic
roadmap of setting up multiple hubs in Africa. Thru this strategic partnership with
Malawian Air, Lilongwe will become Ethiopian third hub on the continent after its
main hub in Addis Ababa and its West Africa in Lomé.
"This 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 21 st 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.
Today, Africa is booming and, with the economic growth of our 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.
Ethiopian Airlines is first and foremost a Pan-African airline, which has been
serving Africa in good and bad times for close to seven decades bringing Africa
together and closer to the world. It is with a win-win and Pan-African spirit that
we have entered into a strategic partnership with Malawi Airlines.
Thru this strategic partnership, Ethiopian and the newly formed Malawi Airlines
will harmonize their flight schedules so as to provide seamless and best connectivity
options for travelers within, to and from the Southern Africa region.
The establishment of multiple hubs in Africa is an overarching strategy of our
Vision 2025. We have participated in the establishment of a regional airline in
West Africa, ASKY, which has been quite successful. I am confident that our new
partnership with Malawi Airlines will also be successful and will greatly benefit
the travelling public in the Southern Africa region," said Tewolde Gebremariam,
CEO of Ethiopian.
As per its Vision 2025 multiple hubs strategy in Africa, Ethiopian Airlines aims
to set up hubs in all regions of the continent and to become the leading aviation
group in Africa generating 10 billion dollars in annual revenue by 2025.
Ethiopian Airlines (Ethiopian) is the fastest growing Airline in Africa. In its
operations in the past close to seven decades, Ethiopian has become one of the continent’s
leading carriers, unrivalled in efficiency and operational success.
Ethiopian commands the lion share of the pan-African passenger and cargo network
operating the youngest and most modern fleet to more than 75 international destinations
across five continents. Ethiopian fleet includes ultra-modern and environmentally
friendly aircraft such as the Boeing 787, Boeing 777-200LR, Boeing 777-200LR Freighter
and Bombardier Q-400 with double cabin. In fact, Ethiopian is the first airline
in Africa to own and operate these aircraft.
Ethiopian is currently implementing a 15-year strategic plan called Vision 2025
that will see it become the leading aviation group in Africa with seven business
centers: Ethiopian Domestic and Regional Airline; Ethiopian International Passenger
Airline; Ethiopian Cargo; Ethiopian MRO; Ethiopian Aviation Academy; Ethiopian In-flight
Catering Services; and Ethiopian Ground Service.
Ethiopian is a multi-award winning airline and a member of Star Alliance since
2011 registering an average growth of 25% in the past seven years.
For more information about this press release, please contact:
Manager PR & Publications
Tel: (+251-11) 517-89-07, (+251-11) 517-81-65
Fax: (+251-11) 661-14-74