Sunday, May 26, 2024
NewsEthiopian Airlines flies high with 20% increase in earnings despite global challenges

Ethiopian Airlines flies high with 20% increase in earnings despite global challenges

Ethiopian Airlines, the largest airline in Africa, announced a 20 percent increase in earnings during the 2022/23 fiscal year. The earnings of the Airlines reached USD 6.1 billion, exceeding the previous fiscal year’s earnings of five billion dollars, including the 12th month’s earnings estimate.

Despite the challenges posed by the ongoing conflict between Russia and Ukraine and the increase in fuel prices, the airline’s impressive earnings demonstrate its resilience in the face of global challenges, according to aviation insiders.

Mesfin Tassew, CEO of Ethiopian Airlines Group, reported that the earnings made during the fiscal year “slightly exceeded our expectations,” and the Group anticipates exceeding its profit target.

During the fiscal year, Ethiopian transported 13.7 million passengers and 723,000 tons of cargo, surpassing the pre-pandemic level of 12.2 million customers. The Airlines currently operates a fleet of over 140 aircraft, including 12 new additions in the last fiscal year.

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