MoU brings Zambia Airways rebirth closer

INDUSTRIAL Development Corporation (IDC) Group chief executive officer Mateyo Kaluba (left) with Ethiopian Airlines Group chief executive officer Tewolde Gebremariam during the signing ceremony to mark the agreement as shareholders of Zambia Airways in Lusaka yesterday. PICTURE: COLLINS PHIRI

THE long-awaited rebirth of Zambia Airways whose inaugural flight is scheduled for January 1, 2019 got a lease of life yesterday when the Industrial Development Corporation (IDC) and Ethiopian Airlines signed a shareholders agreement.
IDC will hold 55 percent equity in the national carrier while Ethiopian Airlines will have a 45 percent stake.
IDC Group chief executive officer Mateyo Kaluba, who appended his signature to the agreement, said Zambia Airways is expected to operate 12 aircraft and carry over 1.9 million passengers by 2028.
Mr Kaluba said the national carrier will first service domestic and

Send Your Letters

Facebook Feed