ADDIS ABABA, (Xinhua) --
Ethiopia’s national flag carrier Ethiopian
Airlines (ET) announced on Tuesday it had finalized shareholders
agreement with the Zambian government to relaunch Zambia
Zambia has had no
national airline since 1994, when its airline, Zambia Airways,
CEO of ET, said the launching of Zambia Airways will enable the
travelling public in Zambia and the Southern African region to
enjoy greater connectivity options.
He further said the
agreement will facilitate the flow of investment, trade and
tourism, and contribute to the socioeconomic growth of the
country and the region.
ET expects the
airline to initially serve national and regional destinations
before embarking on international flights.
The expected budget
for the first year is estimated at about 30 million U.S. dollars
and the airline is expected to start operations this year.
The Government of
Zambia will be the majority shareholder with 55 percent and ET
will have 45 percent stakes in the airline.
currently operates and manages Malawi Airlines in southern
Africa and ASKY airlines in western Africa.