August 10, 2018

Ethiopian mulls stake sales

Flag carrier Ethiopian Airlines plans to acquire a 49% stake in the new Chadian Airlines that is set to be launched in October.

Ethiopian has been in talks with Chad to establish the joint venture with the government retaining a 51% stake.

Chad is one of four countries that the airline has been negotiating with to set up carriers through joint ventures.

The others are Equatorial Guinea, Guinea, and Djibouti.

Ethiopian already runs Togo-based Asky Airlines, in which it holds a 40% stake and Malawian Airlines where it owns 49%.

In January, Ethiopian acquired a 45% stake in Zambian Airways, which will be revived later this year after more than two decades.

Ethiopian also plans to set up a new fully-owned carrier in Mozambique.

… government mulls minority stake sales

Local media is reporting that the government is considering sale of a minority stake in Ethiopian Airlines as well as related assets, such as airports.

Ethiopian Airports Enterprise, owns 23 domestic airports, according to its website.

Ethiopia needs about $7.5 billion to complete current infrastructure projects and at the same time is battling foreign-exchange shortages.