Ethiopian Airlines invests in African carrier
Ethiopian Airlines has bought 49% equity shareholding of Malawi Airlines as part of its strategy to compete with foreign carriers.
The remaining 51% of the shares will be held by the Malawian Government and Malawian private investors.
The new partnership with Malawi Airlines is part of ‘Ethiopian Vision 2025 strategic roadmap of setting up multiple hubs in Africa’ says the airline.
It claims in order to compete with foreign carriers in the growing African market, the African airlines have to create partnerships.
Tewolde Gebremariam, CEO of Ethiopian said: "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 fair share of the market, partnerships between African airlines are a must.
"Ethiopian and the newly formed Malawi Airlines will harmonize their flight schedules so as to provide seamless and best connectivity options for travellers within, to and from the Southern Africa region."
Diane
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