The memorandum of understanding (MOU), signed 24 June in Addis Ababa, Ethiopia, between Ethiopian Airlines and the new company, ASKY, "will arguably mark the his tory of the African air transport", the secretary general of the African Airline
Association (AFRAA), Christian Folly Kossi, who took part in the talks told PANA Saturday.
"It will set an example and contribute to the development of the South-South cooperation," Kossi said, pointing out that the choice of Ethiopian Airlines was a key advantage for the success of the operations of the new airline, which is expected to start operations later this year.
Under the MOU, Ethiopian Airlines will provide 20 per cent in the ASKY's share capital, described by its managing director Girma Wake, as collaboration and an " o pportunity", considering that Ethiopian Airlines has, for a long-time, been looking "to build a hub in West Africa, to better serve the region and link it to the rest of the world", the airline said in a statement.
Since operating its maiden flight in 1946, Ethiopian Airlines now links 50 destinations across the world, including 30 in Africa, which earned it several awards over the last two years.
Named Airline of the Year in 2006 and 2007 by the African Aviation Journal Review, the Ethiopian company was picked by the Ghanaian government and the African T i mes/USA Magazine as winner of the economic and financial success in 2007 due to its rapid growth rate and exceptional performance during the year.
Among the shareholders of ASKY, based in Lomé, Togo are the ECOBANK Group, the two leading development banks in the region - the ECOWAS Investment and Developm ent Bank (BIDC) and the West African Development Bank (BOAD) - as well as several economic operators from the private sector.
Dakar - 05/07/2008
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