Ethiopian Airlines, Zambia to relaunch national airline at cost of $30 million

Ethiopian Airlines has signed a shareholding agreement with Zambia’s main develoment agency to relaunch the southern African country’s flag carrier at an initial cost of $30 million.

The Ethiopian state-owned carrier has outpaced regional competitors Kenya Airways and South African Airways to become Africa’s largest airline by revenue and profit, and has been buying shares in other African airlines to gain a competitive advantage over rivals such as those in the Gulf.