Newly-created Zambia Airways aims to build a fleet of a dozen aircraft over its first decade of operations.
The airline will be 45%-owned by Ethiopian Airlines, with the balance held by the Zambian Industrial Development Corporation – an entity which aims to promote private shareholding in state-owned businesses.
IDC says its strategy includes investing in industries and establishing itself as a partner in joint ventures.
It says Zambia Airways will involve an initial investment of $30 million.
“As we operate the airline we will facilitate the financing necessary to support its growth,” it adds.
Under its development plan the carrier will operate 12 aircraft by 2028, when it will be transporting 1.9 million passengers.
“We have a clear sense of the direction we need to take in order to ensure the fortunes and secure growth of the national airline,” adds IDC. It stresses that it will put in place a “performance-driven” culture to ensure the airline is “commercially viable”.
Zambia Airways will initially operate regional routes, subsequently expanding to intercontinental destinations in Europe, the Middle East, and Asia.
Source: Cirium Dashboard