Ethiopian Airlines Group have signed a letter of intent with the African Development Bank for the development of the East African nation's planned Abusera International Airport project.
The $7.8bn project aims to address increasing passenger and cargo demands, reinforce Ethiopia's position as a leading aviation hub, and promote regional economic growth.
Ethiopian Airlines Group CEO Mesfin Tasew Bekele signed the letter of intent with African Development Bank vice president for regional development, integration and business delivery, Nnenna Nwabufo, at the bank’s headquarters in Abidjan.
The new international airport will be situated in Bishoftu, about 40km from the current Addis-Ababa Bole International Airport.
The airline's 2035 growth strategy is focussing on network expansion, infrastructure development, and human capital investment. In the last fiscal year, ending on June 2024, the airline reported record revenues of $7bn, increasing 14% on the previous year.