PLAN TO PRIVATIZED ETHIOPIAN AIRLINES SUSPENDED
Ethiopia has "temporarily" suspended plans to partially privatize its flag carrier Ethiopian Airlines, following a review of its performance during the coronavirus pandemic
Ethiopia has "temporarily" suspended plans to partially privatise its flag carrier Ethiopian Airlines, following a review of its performance during the coronavirus pandemic. It has been one of the biggest companies the Ethiopian government pledged to partially open for privatisation.
The idea was part of the economic and political reforms ushered in after Prime Minister Abiy Ahmed came to power in 2018.
But now, it says that Africa’s largest airline will remain in the hands of the government for the time being.
This announcement was made by the Minister of Finance, Ahmed Shide, during his presentation of the first quarter reports of the Ethiopian fiscal year. He said, ‘’ the airline will continue to generate much needed foreign currency for the country amid the coronavirus.
Ethiopian Airlines had previously said it had lost more than $900m (£696m) in earnings from passenger flights during the pandemic.
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