Ethiopian Airlines is exploring financing options for its six billion dollars contract to build a new mega-airport, with plans first announced in 2018 to serve more passengers on the continent's largest airline network.
CEO Mesfin Tassew said the airline's current hub, Bole Addis Ababa International Airport, will soon hit its capacity of 22 million passengers annually - only a quarter of what the new airport is planned to handle.
"It is a five-year project (that) will be finalised in 2029. It will be the biggest in Africa," Mesfin said. "Phase one alone will cost at least $6 billion... The money will come through loans and there are already companies that already showed interest."
The project was signed with Dar Al-Handasah Consultants in August to develop the new airport south of Addis Ababa in two phases over five years.
Ethiopian Airlines carried 17 million passengers in the 2023/2024 financial year, and expects 20 million in the current year starting July. The growing network demands more infrastructure to serve its role as Africa's largest airline.
Securing financing remains key for the ambitious plans. But the new airport would solidify Ethiopia's aviation standing and support Ethiopian Airline's continental leadership for decades to come.