Unexpected Start of 2024 for Ethiopian Airlines as the airline onboards a new shareholder onboard – Somaliland. Country Ethiopia has signed an agreement with Somaliland to share equity in the nation’s flag carrier.
Somaliland Acquires Stake in Ethiopian Airlines
The Government of Ethiopia has signed an agreement with Somaliland. Under this agreement, Somaliland will acquire a percentage of equity stake in Ethiopian Airlines. In return, Somaliland will grant access of Red Sea to Ethiopia. The amount of stake transferred to Somaliland is still undisclosed.
The Memorandum of Understanding (MoU) was jointly signed by President of Somaliland Muse Bihi Abdi and Ethiopian National Security Advisor Redwan Hussein. Hussein confirmed that this agreement will allow Ethiopia to use 20 kilometres long coastline for military and commercial purposes. The military purposes includes a Navy Base and an Entry port. This agreement has been signed for a period of 50 years. For 50 years, Ethiopia will utilise the coastline of Somaliland.
The Memorandum of Understanding (MoU) will be finalized within a month. Only then, the stake percentage will be disclosed publically. With this move, Ethiopia is officially recognizing Somaliland. Somaliland is a self-declared republic country, which is recognized by Taiwan. It is located within Somalia. Hargeisa is the capital city of Somaliland. It is also the largest city of Somaliland.
Ethiopian Airlines Targetting US Flights
Ethiopian Airlines, which already operates no-stop flights between Addis Ababa Bole International Airport to Atlanta, Chicago and Washington is looking to increase the number of US flights. The airline is looking to start flight to 4 airports in USA and 1 airport in Canada. Airports, which can soon witness Ethiopian Airlines operations are :
Since Ethiopian Airlines is a member of Star Alliance, at least three of those five hubs are partner hubs. If Alaska can get away with it, they’ll definitely do a one-off in Seattle (SEA). Minneapolis is the anomaly (MSP).
Source : Times Now News