Management contract for a period of five years
Ethiopian Airlines set to open new West African hub
Tuesday, January 19, 2010
Officially realizing Ethiopian Airlines’ long-standing vision to form a hub in West African region, ASKY, the new community airline of Africa, began operation on January 15, 2010.
One year after Ethiopian Airlines and fledgling airline, ASKY, signed a management contract guaranteeing the preeminent East African carrier management rights for a period of five years and a 25% stake in the start-up airline, the two companies are now set to open a new West African hub in Lome, Togo, for regional and inter-continental routes.
Signed by Ethiopian Airlines Chief Executive Officer, Mr. Girma Wake, and Chairman of ASKY, Mr. Gervais Koffi Djondo, the 2009 agreement was an important move marking an historic intra-African co-operation in the airline business.
Strategically positioned in one of the fastest growing economies in the world, ASKY is a multinational private airline initiative geared to meet the growing demands for safe, reliable and competitive air transportation services in Central and West Africa. Its equity ownership includes the private multinational ECOBANK and the two major development banks of the region, namely EBID, the Economic Community of West African States (ECOWAS), Bank of Investment and Development, and BOAD, West African Development Bank and South African investors.
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