Ethiopian Airlines Group has signed an intent with the African Development Bank (AFDB) to fund the construction of the new Abusera International Airport, a US$7.8 billion project designed to meet growing passenger and cargo demand.
The agreement was signed on March 14th at the Bank's headquarters in Abidjan, Ivory Coast, by Ethiopian Airlines Group CEO Mesfin Tasew Bekele and Vice President of Regional Development, Integration and Business Delivery of AFDB.
The new airport is located in Bishoftu, about 40 km from the current Addis Ababa Bole International Airport, according to the AFDB, with a maximum annual passenger capacity of nearly 25 million people.
According to the AFDB, the infrastructure will significantly stimulate regional economic growth and strengthen Ethiopia's position as Africa's leading aviation hub. The new airport will increase connectivity within Africa and strengthen the connection between the continent and the world.
Dr. Akinwumi Adesina of AFDB highlighted Ethiopian Airlines as a “symbol of Africa's excellence and resilience” and stated the bank's full commitment to supporting “this transformative flagship project.”
Ethiopia's Finance Minister Ahmed Scheid described the signing as further confirmation of AFDB's commitment to “Ethiopia's ambitious flagship air transport project.”
Ethiopian Airlines Group reported record revenue of US$70.2 billion for the fiscal year ending June 30, 2024, representing a 14% increase from the previous year, transporting 17.1 million passengers.
Currently, from Ball Airport's hub, the airline serves a network of 141 destinations around the world, operating around 2,500 flights per week (a combination of arrival and departure).
Last week, the company announced its expansion to Vietnam and began flights to Hanoi in July.
The fleet consists of:
51 Boeing 737 Max 8 (plus 32 hold delivery) 20 Airbus A350-900 (plus 11 pep) 767-300ERF5 Boeing 777-300ER4 Boeing 737-800SF3 Airbus A350-1000 (plus 1 hold) 2 Boeing 737-700
The average age of the fleet is 8.3 years old.
