Ethiopian Airlines’ Investment & Expansion in Africa: A Close Look at ASKY’s Boeing 737 MAX Fleet Introduction

ASKY Airlines, based in Lomé, Togo, will expand its fleet by purchasing two Boeing 737 MAX 8 through a leasing agreement with AerCap. The MAX aircraft are expected to be delivered in June and August 2023. ASKY will become the 14th African customer for AerCap.

Ads

«It is an honor to introduce the state-of-the-art B737-8 MAX aircraft into ASKY’s fleet, which will support our extensive regional network in our continuous effort to serve our esteemed customers,» said Esayas W. HAILU, ASKY’s CEO.

The pan-African airline, privately owned and propelled by regional financial institutions in Africa, includes Ethiopian Airlines among its investors. Currently, ASKY operates a fleet of twelve aircraft: eight Boeing 737-800s and four Boeing 737-700s.

ASKY operates in 26 cities across 24 countries in South, West, Central, and East Africa, with a strong intra-African route network focused on developing the regional market.

Ethiopian Airlines continues to invest in African airlines

Ethiopian Airlines has invested in the creation of new local airlines in conjunction with current governments. The company has revitalized several African enterprises over the past decade.
ASKY was its first project, of which it now holds 40% of the shares, founded in 2008. The company was created after the cessation of operations by Air Afrique in 2002, which was the main airline of West and Central Africa. In 2021, it transported 670,207 passengers, 6.67% less compared to 2019.

Ads

In 2013, its next project was Air Malawi, which ceased operations due to insolvency. 49% of its assets were acquired by Ethiopian Airlines. It changed its name to Malawi Airlines the following year. It currently operates with one Boeing 737-800 and one De Havilland Canada DHC 8-400.

In 2018, Ethiopian signed a strategic partnership agreement with the government of Zambia to assist in the revival of Zambia Airways, which had ceased operations in 1994. The airline owns a 45% stake in the airline; the remainder is held by the Zambian government. It began operations in 2021 with a De Havilland Canada DHC 8-400 and expects to add another DHC 8-400 and a Boeing 737-800.

Between 2018 and 2021, Ethiopian operated Ethiopian Mozambique Airlines to compete with the national airline LAM, but the socio-economic situation and the fall in demand forced its exit from the market.

Ethiopian has also attempted to launch Guinee Airlines as a national carrier to replace the defunct Air Guinee. It attempted to launch Nigeria Air and revive South African Airways, but these were thwarted by government decisions.