Ethiopian Airlines appointed KPMG as financial adviser for its Bishoftu International Airport project, a $12.5 billion development aimed at creating one of AFRICA’S largest aviation hubs capable of handling 110 million passengers annually and extensive cargo operations. The airport, located 40 km southeast of Addis Ababa, will be constructed in phases, with an $8 billion lump-sum turnkey component, and includes a $954 million rail link connecting Bole International Airport. The financing structure is planned as ring-fenced, limited-recourse debt with a 70:30 debt-to-equity ratio, leveraging blended finance and guarantees from multilateral lenders, while 59 financial institutions have been engaged, with 12 submitting letters of interest. The project also incorporates resettlement and livelihood restoration programmes costing $350 million, with total land acquisition and resettlement costs reaching approximately $741 million. Technical advisory is provided by Dar Al-Handasah Consultants, with contributions from international firms like Zaha…
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