ETHIOPIAN AIRLINES SIGNS A SHAREHOLDING AGREEMENT WITH NEIGHBOURING COUNTRIES

In the signed agreement Ethiopian airlines is set to own a 45 percent a revamped Zambian Airline, and Zambia will own 55 percent.

The Ethiopian state-owned carrier, after outpacing its regional competitors like Kenya Airways and South African Airways to become Africas largest Airline by revenue and profit, has now started buying shares in other African Airlines to gain competitive advantage over rivals such as those in gulf. The Ethiopian Airlines signed a shareholding agreement with Zambias main development agency to relaunch the Sothern African countrys flag carrier at an initial cost of $30 Million. In the signed agreement Ethiopian airlines is set to own a 45 percent a revamped Zambian Airline, and Zambia will own 55 percent.