Ethiopian Airlines, the continent's leading aviation group, marked its 80th anniversary with a high-profile 'Customer Experience Day.' During the event, Ethiopia’s Minister of Finance, Ahmed Shide, provided a comprehensive update on the progress of the nation’s most ambitious infrastructure project: the new Bishoftu International Airport.
The project, which carries a staggering price tag of $12.5 billion, is positioned as the future hub of African aviation. Minister Shide revealed that the financing strategy is already in motion, with $8.5 billion expected to be secured through external loans. The remaining 30% of the project’s cost will be financed directly through the capital equity of Ethiopian Airlines, reflecting the carrier's robust financial standing and its ability to reinvest in its own growth.
Currently, the project has moved past the conceptual stage into 'Early Works.' According to the Minister, more than $750 million has already been invested in site preparation. This phase includes extensive land leveling, the installation of perimeter fencing, and the development of essential water and utility infrastructure to support the massive construction site.
The necessity of the new airport stems from the rapid growth of Ethiopian Airlines and its 'Vision 2035' expansion strategy. The current primary hub, Bole International Airport in Addis Ababa, has reached its maximum capacity of 20 million passengers annually. 'This project is not merely a government desire or a preference of the airline; it is a commercial necessity,' Minister Shide emphasized, noting that the current facilities can no longer sustain the airline's projected trajectory.
Addressing the social impact of the massive development, the Minister noted that the government has taken steps to support local communities. Farmers who were relocated to make way for the airport have been moved to newly constructed residential villages. Furthermore, the government has implemented programs to ensure these residents have access to sustainable income-generating opportunities to replace their previous livelihoods.
The scale of the project has attracted significant international attention. Financial institutions from the United States, China, Europe, Asia, and the Middle East have expressed strong interest in participating in the financing and development of the hub. This global interest underscores the strategic importance of Ethiopia as a primary gateway between Africa and the rest of the world.
The event was attended by several high-ranking officials, including Fitsum Assefa, Minister of Planning and Development, and Dr. Eyob Tekalign, Governor of the National Bank of Ethiopia. As Ethiopian Airlines looks toward its next decade of operation, the Bishoftu Airport stands as the cornerstone of its long-term strategy to remain the dominant force in African skies.
Source: Telegram / tikvahethiopia