Ethiopian Airlines Group has announced a profit of $7 billion in the current Ethiopian fiscal year (2016).
In a statement, the CEO of the group, Mr. Mesfin Tasew, highlighted that this profit represents a 14 percent increase compared to the same period last year. The profit, when converted to Ethiopian birr, amounts to 402 billion birr.
The airline recorded 577,746 flight hours, marking a 19 percent increase over the previous year.
Additionally, Ethiopian Airlines handled 17.1 million passengers during the fiscal year, with 13.4 million being international passengers and 3.7 million domestic passengers.
Despite the overall positive performance, the airline’s cargo revenue showed a decline.
The airline transported over 54 thousand tons of cargo, generating $1.65 billion in revenue, which is an 8 percent decrease compared to the same period last year.
Ethiopian Airlines has also placed an order for the production of 125 new aircraft, reflecting its commitment to expanding its fleet and enhancing its service offerings.
Ethiopian Airlines has started six new international flights and three new domestic flights. The new international destinations include Madrid, Freetown, Gatwick, Bangui, Maun, and Casablanca (cargo).
In a related development, it is recalled that Eritrea suspended all Ethiopian Airlines flights to Asmara since September.
The Eritrean Ministry of Transport and Communications, along with the Civil Aviation Authority, issued a notice banning Ethiopian Airlines from flying to Asmara after September 30, 2024.
In response, Ethiopian Airlines expressed its hope to resolve the issue positively through discussions with the Eritrean Civil Aviation Authority.
Mr. Mesfin urged the Eritrean Civil Aviation Authority to reconsider its decision, emphasizing the importance of dialogue and cooperation in resolving the matter.
Ethiopian Airlines resumed flights to Eritrea in 2019 after a two-decade hiatus due to the war between the two nations.
The resumption of flights marked a significant milestone in the improving relations between Ethiopia and Eritrea, following Prime Minister Abiy Ahmed’s rise to power. The inaugural flight, a Boeing 787, carried approximately 250 passengers to Asmara.
