Ethiopian to hold 45% stake in new Zambia Airways

Zambia Airways will be owned 55% by the Zambian Government's Industrial Development Corporation and 45% by Ethiopian Airlines, according to Zambia's Minister of Home Affairs Stephen Kampyongo (Lusaka Times, 23-Dec-2017). The new airline will receive a USD16.5 million grant to cover the first year of start up and operational costs. Mr Kampyongo said: "We have learnt lessons on how Zambia Airways failed to conduct business and going forward, there will be no interference with the running of the new face Zambia Airlines". He also noted the Government has invested USD1 billion in aviation since 2012.