× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Ethiopian carrier front runner in tender for planned Nigerian airline

FINANCIAL STANDARD
By Reuters | Aug 14th 2018 | 2 min read
By Reuters | August 14th 2018
FINANCIAL STANDARD
Ethiopian Airlines landing at the Moi International airport in Mombasa County. [Maarufu Mohamed, Standard]

Ethiopian Airlines is the front runner to set up and manage a new national carrier for Nigeria, its chief executive said on Friday. “We are among a small group with an interest in establishing a national carrier (in Nigeria) ...we do not know the results (of the tender), though we are frontrunners,” Chief Executive Tewolde Gebremariam told a news conference.

The state-owned carrier has outpaced regional competitors Kenya Airways and South African Airways to become Africa’s largest airline by revenue and profit, according to the International Air Transport Association.

The airline has been buying shares in other African airlines, a strategy aimed at gaining a competitive advantage against rivals such as those in the Gulf.

Maintenance work

Ethiopian Airlines already has contracts for maintenance work with two Nigeria-based carriers, Arik Air and Medview Airline, he said.

In May, Tewolde told Reuters that the airline was in talks with Chad, Djibouti, Equatorial Guinea and Guinea to set up carriers through joint ventures.

It aimed to create a new airline in Mozambique that it will fully own, the chief executive said at the time.

In June, Ethiopia said it would open its and other firms including the telecoms monopoly up to private domestic and foreign investment, but details have not yet been made public.

Tewolde also said that net profit in the 2017/18 financial year rose to Sh23.3 billion from Sh22.9 billion the previous year. Ethiopia’s 2017/18 financial year ended last month. The airline’s operating revenue rose by 43 per cent to Sh370 billion in the 2017/18 financial year.  

Share this story
Turkish lira edges up from record low
The Turkish lira pulled back on Tuesday from a record low of 7.24 a day earlier after the central bank pledged to provide liquidity
China rejected Kenya's request for Sh32.8b debt moratorium
China is Kenya’s largest bilateral lender with an outstanding debt of Sh692 billion.
.
RECOMMENDED NEWS
Feedback