Ethiopian Airlines confirmed (13-Jul-2013) it has become the strategic partner of the new Malawi Airlines with a 49% equity shareholding. The remaining 51% of the shares will be held by the Malawian Government and Malawian private investors. Ethiopian Airlines CEO Tewolde Gebremariam said: “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 21st 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." Mr Gebremariam added: "Through this strategic partnership, Ethiopian and the newly formed Malawi Airlines will harmonise their flight schedules so as to provide seamless and best connectivity options for travelers within, to and from the Southern Africa region." [more - original PR]
Ethiopian Airlines announces Malawi Airlines JV with Malawian Government
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