Home / Africa/International / Ethiopian takes up 49% shares in Malawian Air

Ethiopian takes up 49% shares in Malawian Air

ethiopian-airlinesEthiopian Airlines has acquired 49%  equity  shares in the new Malawian Air, becoming a strategic partner of the carrier.

Both parties signed a shareholder agreement July 11, 2013, between Dr. Cornelius Mwalwanda, Deputy Minister of Finance of the Government of Malawi and Ato Tewolde Gebremariam, Chief Executive Officer of Ethiopian.

The remaining 51% of the shares will be held both by the the Malawian Government and private investors.

In a statement, Ethiopian Airlines said with the partnership with Malawian Air, Lilongwe which is Malawi’s capital, will become Ethiopian’s third hub in Africa after Addis Ababa and Lomé.

By Ekow Quandzie

Check Also

Prof. Yankah calls for harmonisation of African universities

Professor Kwesi Yankah, the Minister of State in-charge of Tertiary Education, has called for the …