Ethiopian Airlines Group and the African Development Bank (AfDB) have signed a Letter of Intent to finance the development of Abusera International Airport, a $7.8 billion project aimed at strengthening Ethiopia’s position as a key aviation hub. This new world-class airport, to be built in Bishoftu—about 40 km from Addis Ababa—will help meet growing passenger and cargo demands while boosting regional economic growth.
A Strategic Investment in Africa’s Aviation Future
The agreement was signed on March 14 at AfDB’s headquarters in Abidjan by Ethiopian Airlines Group CEO Mesfin Tasew Bekele and AfDB Vice President for Regional Development, Integration, and Business Delivery, Nnenna Nwabufo. Ethiopian Finance Minister Ahmed Shide led the Ethiopian delegation, which included key officials from the airline and the Ministry of Finance.
The Abusera International Airport will complement the recently expanded Bole International Airport, which is nearing its maximum capacity of 25 million passengers per year. With Ethiopia’s aviation sector rapidly growing, this new infrastructure will enhance Ethiopian Airlines’ ability to improve connectivity across Africa and beyond, further integrating the continent into the global air transport network.
AfDB’s Commitment to African Aviation Growth
During discussions with the Ethiopian delegation, AfDB President Dr. Akinwumi Adesina reaffirmed the bank’s support for the project, calling Ethiopian Airlines “Africa’s pride, a symbol of excellence and resilience.” He emphasized that the bank is committed to backing this transformative initiative, which aligns with its goal of enhancing regional integration through improved transportation infrastructure.
Finance Minister Ahmed Shide echoed this sentiment, highlighting the significance of the project for both Ethiopia and Africa.
“This mega airport project will not only strengthen Ethiopian Airlines’ competitive position in passenger and cargo services but also improve Africa’s global air connectivity, solidifying the continent’s status as a key aviation hub,” Shide stated.
Ethiopian Airlines’ Growth Strategy
Ethiopian Airlines, Africa’s largest and most successful carrier, is advancing its 2035 growth strategy, focusing on network expansion, infrastructure development, and human capital investment. The airline recently reported record revenues of $7.02 billion for the fiscal year ending June 30, 2024—a 14% increase from the previous year. It transported 17.1 million passengers, with 13.4 million on international routes and 3.7 million on domestic flights.
As Ethiopian Airlines continues its expansion, the Abusera International Airport project represents a major milestone in its long-term vision, reinforcing Ethiopia’s leadership in African aviation and positioning the country as a global air transport hub.
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