Ethiopian Airlines, one of the leading African airline announced that it has become strategic partner of the new Malawian Air with acquisition of 49 per cent equity shareholding. The remaining 51% of the shares is held by the Malawian Government and Malawian private investors.

The shareholder agreement for Malawi Airlines was signed between Dr. Cornelius Mwalwanda, Deputy Minister of Finance of the Government of the Republic of Malawi and Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airline in Lilongwe on Thursday, 11 July 2013.

The latest partnership agreement with Malawi Airlines is part of Ethiopian strategy of setting up multiple hubs in the continent. The strategic partnership with Malawian Air will make Lilongwe Ethiopian Airline's third hub in Africa after its main hub in Addis Ababa and Lomé in Africa.

"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 21 st 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", said Tewolde Gebremariam, CEO of Ethiopian.

Ethiopian Airlines aims to establish multiple hubs in all regions of Africa to become the continent's leading airline with USD 10 billion in annual revenue by 2025.

Source: Ethiopian Airlines