Ethiopian Airlines Group has announced its plan to establish a Special Purpose Company (SPC) to manage the development, financing, and operations of the landmark Bishoftu International Airport (BIA) project.
This new subsidiary, which will be fully owned by the Group, is tasked with overseeing the $10 billion megaproject, which is envisioned as a major extension to the existing Addis Ababa’s Bole International Airport. The BIA project is a critical component of Ethiopia’s long-term aviation strategy, designed to serve as a springboard for the country’s ambitious goals in the sector. The detailed plans for the project’s structure, development, and financing were unveiled during a recent two-day stakeholder showcase in Addis Ababa.
The event brought together more than 40 key institutions, including development banks, financiers, and contractors, to discuss the project’s future. Key figures in attendance included Ethiopian Finance Minister Ahmed Shide, Ethiopian Airlines CEO Mesfin Tasew, and representatives from prominent organizations such as the African Development Bank (AfDB) and consulting firms like KPMG and Dar Al-Handasah.
The establishment of the SPC is a strategic move to streamline the complex process of developing and operating such a large-scale infrastructure project, demonstrating a strong commitment from the airline to its future growth and Ethiopia’s position as a regional aviation hub.
