Addis Ababa October 10/2020 (ENA) The Authorities of Ethiopia disclosed that it has suspended the privatization of Ethiopian Airways, the biggest airline in Africa.
The federal government had two years in the past introduced the complete or partial privatization of chosen state-owned entities, together with Ethio Telecom and Ethiopian Airways.
Finance Minister Ahmed Shide stated in his briefing to journalists at present that the partial privatization of Ethio Telecom is properly underway and the corporate will probably be privatized in three months.
Nevertheless, he added that the federal government has determined to droop the plan to denationalise Ethiopian Airways as the corporate’s competitiveness within the worldwide market continues regardless of the outbreak of COVID-19 that has been significantly affecting the world’s economic system.
Ethiopian continues to be one of many main competent authorities entities in Africa, the minister famous.
Amid the worldwide pandemic that crippled the worldwide aviation and tourism trade, Ethiopian Airways has generated annual income of 122.14 billion Birr (about 3.Three billion USD at present change fee) through the Ethiopian price range yr that concluded on July 7, 2020.
The totally state-owned aviation group has managed to generate the income by diversifying its earnings streams, primarily by specializing in cargo companies and chartered flights.
Therefore, primarily based on these current realities, the federal government has determined to droop the plan to denationalise Ethiopian Airways.