Ethiopian Airlines Group has signed a letter of intent with the African Development Bank (AfDB) for the construction of a new world-class airport.
The $7.8bn project to build Abusera International Airport in Ethiopia aims to address the increasing demand for passenger and air cargo services and reinforce the African country’s position as a leading aviation hub, said the AfDB.
The new “world-class” international airport will be situated in Bishoftu – around 40km from the current Addis-Ababa Bole International Airport.
Mesfin Tasew Bekele, CEO of Ethiopian Airlines Group, and Nnenna Nwabufo, vice president for regional development, integration and business delivery at the AfDB, signed the letter of intent at the bank’s headquarters on Friday 14 March.
“I’m a great friend of Ethiopia and, of course, Ethiopian Airlines is Africa’s pride, a symbol of excellence and resilience,” said Akinwumi Adesina, president of the AfDB.
“The African Development Bank is fully committed to supporting this transformative flagship project, which will strengthen the continent’s aviation leadership and economic integration.”
Ethiopian finance minister Ahmed Shide, who also attended the meeting, said the signing of the letter of intent for the “new mega airport development project is yet another testament to AfDB’s commitment to supporting Ethiopia’s ambitious flagship air transport project”.
He added that construction of the airport “will not only reinforce Ethiopian Airlines’ competitive edge in passenger and cargo services, but also enhance Africa’s global air connectivity and integration, solidifying the continent’s aviation hub status”.
The new development project will complement Ethiopia’s recently expanded Bole International Airport, which is expected to reach its annual 25 million passenger capacity limit soon.
Abusera International Airport will enhance Ethiopian Airlines’ role in improving intra-Africa connectivity by enabling a more extensive and efficient network, and strengthening connectivity between Africa and the rest of the world, said the AfDB.
