ETHIOPIAN Airlines, Governments strategic partner in the re-establishment of Zambia Airways, has invested US$13.5 million in the project expected to be in the skies by mid this year. Ministry of Transport and Communications Permanent Secretary, Misheck Lungu, said the investment in the re-establishment of the national carrier by Ethiopian Airways would go towards aircrafts and other agreements. Eng. Lungu explained that Ethiopian Airlines would provide Government with three aircrafts leased in cash at US$9 million while further providing payment security deposit for the machines at US$4.5 million.
“The required capital for the reestablishment of Zambia Airways is US$30 million and an additional US$11 million should be released to fund operations. Establishing a national airline is currently a priority looking at the benefits that will come with it,” he said.
He was speaking in Lusaka at a public discussion forum on the re-establishment of Zambia Airways.
Mr. Lungu emphasised that Ethiopian Airlines was a strategic partner which would hold 45 percent shares in Zambia Airways while Government through the IDC would own 55 percent of the shares.
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