Tuesday 10, July 2018 by Bloomberg

Ethiopia Airlines to buy 20 per cent Eritrean Carrier Stake

 

The two countries had been at loggerheads since the end of a two-year border war.

  

span style="font-family: Calibri;">Ethiopias national airline will take a 20 per cent stake in Eritrean Airlines, the state-owned Ethiopian Press Agency reported, citing unidentified Eritrean media.

span style="font-family: Calibri;">Ethiopian Airlines Enterprise, Africas biggest carrier by revenue, will also resume flights next week to Asmara, the capital of neighbouring Eritrea, the ruling party-funded Fana Broadcasting Corp. reported earlier, after the two countries made a historic agreement to end a state of war and rebuild economic ties.

Ethiopian Airlines Chief Executive Officer, Tewolde Gebremariam and Eritrean Information Minister Yemane Gebremeskel did not immediately respond to emails seeking comment on the report.

span style="font-family: Calibri;">The renewed service comes after Prime Minister Abiy Ahmeds weekend visit to Eritrea, where he and Eritrean President, Isaias Afwerki, pledged cooperation in political, economic and security matters, easing relations that have been fraught for almost two decades.

span style="font-family: Calibri;">Landlocked Ethiopia will also resume using Eritreas ports, which have been closed to it since Eritrea won independence in the early 1990s, and telecommunications links and embassies are being re-established.

  

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