Ethiopian Airlines Reports Setback
Negotiations between Ethiopian Airlines and Nigerian officials to create an Ethiopia-Nigeria joint airline venture have failed. Ethiopian Airlines CEO Mesfin Tasew announced this development in Dubai, revealing that the Nigerian government has pulled out of the Nigeria Air project.
Nigeria Abandons Partnership
Tasew confirmed that the Nigerian government opted against a foreign airline partnership. “The Nigerian government has lost interest in partnering with a foreign airline,” he stated. This move significantly alters the original plan, which allocated a 49% stake to Ethiopian Airlines, 46% to Nigerian investors, and 5% to the government.
Impact on Ethiopian Airlines
Despite this development, Ethiopian Airlines will continue its multi-hub strategy across Africa. Tasew reiterated the airline’s dedication to forming joint ventures with other African nations. “We have been approached by several airlines in Africa for support, and we are evaluating them,” he noted. Possible partners include airlines from the Democratic Republic of Congo and Equatorial Guinea.
Current Joint Ventures
Ethiopian Airlines has already established several successful joint ventures. The airline holds a 40% stake in Togo-based ASKY and launched its first joint venture with Malawi Airlines. Additionally, Zambia Airways, where Ethiopian Airlines owns a 45% stake, continues to expand its operations.
Effects on Nigeria’s Aviation Sector
Nigeria’s withdrawal from the Nigeria Air project aims to support the growth of local businesses in the aviation sector. By avoiding foreign partnerships, Nigeria seeks to develop a robust and independent aviation industry that can strengthen its economy.
Future Endeavours
Ethiopian Airlines remains focused on seeking new opportunities across Africa to bolster its presence and aid the continent’s aviation development. The airline’s commitment to forming partnerships underlines its strategic vision for expanding its reach and connectivity within Africa.
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