Saturday, July 13, 2024

Zambia Airways gets breath of life 24 years after liquidation

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Zambia is preparing to relaunch its flag carrier Zambia Airways after a 24-year gap thanks to a shareholding agreement that was signed Monday between Ethiopian Airlines and state agency Industrial Development Corporation (IDC).

Under the plan, Zambia Airways would operate 12 planes by 2028, Ethiopian Airlines said in a joint statement with Zambia’s state-owned Industrial Development Corporation (IDC).

The agreement also states that IDC will  hold 55 percent equity in the carrier, with Ethiopian Airlines holding 45 percent.

The airline will initially operate routes across Africa, before extending its network to Europe, the Middle East and Asia.

Zambia Airways was liquidated in 1994 when vice president Godfrey Miyanda took to state TV to announce the airline’s demise.

Ethiopian Airlines’ entry into Zambia signals its growing role in aviation across Africa as it looks to cement its position as the continent’s largest airline by revenue.

The carrier 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.

Read:Air Tanzania begins new east Africa flights in August
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