Ethiopian Airlines CEO Mesfin Tasew announced at a news conference that the new airport, situated near Bishoftu, about 45 km (28 miles) from Addis Ababa, will be capable of accommodating 100 million passengers annually and will feature parking for 270 aircraft.
Sidara, a Dubai-based engineering and consulting firm, will handle the design of the airport, according to the company’s director of operations, Tariq Al Qanni.
The project, initially announced in 2018, comes as Bole Addis Ababa International Airport, the current hub for Ethiopian Airlines, approaches its 25 million annual passenger capacity.
Ethiopian Airlines CEO Mesfin Tasew stated that the new airport is expected to be completed within five years, by 2029, and will become the largest in Africa.
The first phase of the project is projected to cost a minimum of $6 billion, with funding expected to come from loans, according to Ethiopian Airlines.
Several companies have already expressed interest in financing the project.
In the 2023/2024 financial year, the airline carried 17 million passengers and anticipates this number to increase to 20 million in the current financial year.