Firering Strategic Minerals: From explorer to producer. Watch the video here.
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https://twitter.com/zitamarnews/status/976109201805242368?s=21 �� Brilliant news
https://twitter.com/clubomozambique/status/976104421842092033?s=21
Memorandum of Understanding to explore long-term commercial cooperation. The Memorandum was signed in LAM headquarter in Maputo. The intent of the memorandum includes wide-ranging areas of cooperation expected to significantly enhance commercial aviation in the country. The memorandum covers code-share and interline agreements between the two carriers, optimized network synergies to accommodate same as well as cooperation on other commercial systems, cargo, engineering and maintenance. LAM chief executive Mr. Pinto commented that the �areas of cooperation will not only further strengthen Mozambique�s flag carrier as a regional air-services provider but contribute significantly to initiatives that promote tourism, economic development and trade.� �This is an exciting and industry-leading public-private partnership initiative,� adds Mr. Pinto. �It not only supports Mozambique�s greater economic growth objectives in terms of the efficient and affordable movement of people and goods, but also the notion of a longer-term Whole of State Aviation strategy.� Mozambique is a signatory to the Yamoussoukro Decision and one of the early nation-adopters on the Continent. �The approach to commercial cooperation is the first of its kind on the African continent,� says Fastjet Chief Executive Nico Bezuidenhout. �There is significant opportunity in stimulating not only commercial aviation but also up and downstream economic growth through key cooperative initiatives. Fastjet is committed to exploring and leveraging the agreement to the best-benefit of both companies and, ultimately the people of Mozambique.� The African Development Bank recently reported on a high medium-term growth forecast for Mozambique. �This memorandum of understanding lays the foundation for full economic leverage of a very bright future and fulfilment of the Government of Mozambique�s Whole of State aviation objectives.�
fjetcrazy, what do you think this'll mean for FJETs route network domestically, and internationally? Hopefully, they are shielded from the losses that LAM makes? Also where does this leave Ethiopian as I thought they had a large stake in LAM?
Well I would imagine if they let Fjet concentrate on domestic leaving LAM to expand regionally it could be a win win , if LAM benefits so does Ethiopians stake in lam
This news is on the front page of the fastjet website already!
If Wikipedia is correct it looks like I was wrong and LAM is 91% government owned with the remainder held by staff. https://en.wikipedia.org/wiki/LAM_Mozambique_Airlines Out of their 15 destinations only 4 are international: - Dar es Salaam - Harare - Nairobi - Johannesburg
It�s Malawi where Ethiopian has the stake then
Correct they hold 49% of Malawian, 45% of the proposed new Zambia Airways and a Management & Strategic Partnership *(though no ownership that I can see) of ASKY Airlines and are also planning on something similar (with ASKY) in Guinea.
They are regional routes T
I carried on digging and Ethiopian hold a 40% stake in ASKY too.
It�s interesting to note that LAM have fiercely denied reports of not being able to pay fuel bills to provider BP, rather they are citing fuel shortages, it�s also very interesting to note that all LAM flights are CANX domestically, so any customers are already being onloaded to Fastjet, my only concern is that Fjet have assurance from Government of PAYMENT.