Zambia Airways’ flying plan gets postponed to 2019
The Zambian government has signed the shareholders agreement with Ethiopian Airlines for the Zambia Airways (Lusaka) project.
Aug 22, 2018: The Zambian government has signed the shareholders agreement with Ethiopian Airlines for the Zambia Airways (Lusaka) project.
Under the terms of the deal, the Zambian state will control a 55 percent stake in the nascent carrier through its Industrial Development Corporation (IDC) with Ethiopian controlling the remaining 45 percent. Initial capitalisation has been put at US$ 30 million.
As per IDC statement, Zambia Airways is now only expected to complete certification and launch on January 1, 2019. Government had originally planned to have the airline start flights on October 24, which is Zambia's Independence Day.
IDC chief executive Mateyo C. Kaluba said the new airline will operate 12 aircraft and carry over 1.9 million passengers by 2028.
"We will instil a performance-driven culture through strong corporate governance structures and make Zambia Airways commercially viable," he said.
The IDC statement also said Zambia Airways will launch with domestic and regional routes with intercontinental flights to destinations in Europe, the Middle East, and Asia to be added later.
