Ethiopian Airlines and the African Development Bank (AFDB) have signed a letter aimed at developing the country's planned abuse international airport project
The US$7.8 billion project aims to meet growing passenger and cargo demand, strengthen Ethiopia's position as a major aviation hub, and stimulate the region's economic growth.
The new world-class airport is located in Bischofftu, approximately 40 km from the current Addis Abababore International Airport.
Ethiopia's Finance Minister Ahmed Schaid said the letter of intent for the new “mega airport” highlighted the AFDB's commitment to supporting the country's air transport ambitions.
Shide added, “The project will not only strengthen Ethiopian Airlines' competitiveness in passenger and freight services, but will also strengthen the global air connections and integration in Africa and strengthen the status of the continent's aviation hub.”
The new Abusera International Airport complements Ethiopia's recently expanded Bole International Airport. This is expected to soon reach a passenger capacity limit of 25 million people per year.
The new infrastructure is also expected to strengthen the role of Ethiopian Airlines in improving connectivity within Africa by enabling broader and more efficient networks and enhancing connectivity between Africa and the world.
Africa's largest airline, Ethiopian Airlines Group is in the process of driving an ambitious 2035 growth strategy, emphasizing network expansion, infrastructure development and human capital investment to enhance global competitiveness.
Ends last fiscal year June 30, 2024the airline reported record revenue of over USD 7 billion, reflecting a 14% increase from the previous year.
It transported 17.1 million passengers, 13.4 million on international routes and 3.7 million domestically.
“Ethiopian Airlines is Africa's pride and symbolizes excellence and resilience,” said Akinwumi Adesina, president of AFDB.
“The African Development Bank is fully committed to supporting this transformative flagship project, which strengthens the continent's aviation leadership and economic integration.”
Adesina has signed the intent with Mesfin Tasew Bekele, CEO of Ethiopian Airlines Group.
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