Ethiopian takes up 49% shares in Malawian Air

Ethiopian 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