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Ethiopian Airlines Group (EAG) has taken a decisive step toward building Africa’s largest aviation hub with the signing of a landmark mandate letter with the African Development Bank (AfDB) for the financing of its planned mega airport in Bishoftu with $500million .
The agreement, followed Letter of Intent signed on March 24, 2025, appoints the AfDB as the Initial Mandated Lead Arranger to raise funding for the continent’s most ambitious airport project to date.
Under the deal, the Bank will provide a $500 million loan and coordinate the mobilisation of additional financing needed for the development.
The new greenfield facility, to be built in Abusera, 40 kilometers south of Addis Ababa, will initially handle 60 million passengers annually, with expansion plans pushing capacity to 110 million.
On completion, it will eclipse all other African airports in scale, ranking among the world’s leading global hubs.
The mega airport will serve as Ethiopian Airlines’ future base for all international passenger and cargo operations, while the existing Bole International Airport will continue to handle domestic flights.
EAG Chief Executive Officer, Mesfin Tasew hailed the partnership as a critical milestone in delivering a world-class pan-African gateway that will transform connectivity, tourism, and trade.
He reaffirmed the airline’s commitment to leading the continent’s aviation growth, describing the project as central to Ethiopia’s and Africa’s economic future.
AfDB President Dr. Akinwumi Adesina described the signing as a proud moment for African aviation, highlighting the Bank’s role in mobilising resources for strategic infrastructure that aligns with the African Union’s Agenda 2063 and the African Single Air Transport Market (SAATM).
The Bishoftu airport will be the centerpiece of an aerotropolis designed to boost logistics capacity, attract investment, create tens of thousands of jobs, and drive regional development.
It also reinforces the AfDB’s track record in structuring large-scale projects that combine public and private capital to advance Africa’s long-term development priorities.
The initiative comes as Ethiopian Airlines continues to execute its 2040 growth strategy, which focuses on expanding its network, upgrading infrastructure, and investing in human capital to strengthen global competitiveness.
In the fiscal year ending June 30, 2025, the airline posted record revenues of $7.6 billion, up 8 percent from the previous year, and carried 19 million passengers, 15.1 million on international routes and 3.9 million domestically.
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