mzeiya
Elder Lister
Ethiopian Airlines has posted US$7.02 billion in revenue for the fiscal year 2023/2024, which ended on July 7. This represents a 14 per cent increase compared to the fiscal year 2022/2023.
- The airline flew 577,746 hours during the period, a 19 per cent increase compared to its total flight hours reported during the previous year.
- Passenger flights contributed US$5 billion to the total revenue earned in the year.
- Mesfin Tasew, CEO of Ethiopian Airlines Group said geopolitical conflicts, including the Russia-Ukraine conflict, the Sudan conflict, and the increased fuel prices, have remained the pressing challenges for the global aviation industry.
Regarding cargo, the airline experienced a decrease compared to the same period last year, transporting 54,681 tons of cargo. The revenue from cargo was US$1.65 billion, reflecting an 8 per cent decrease compared to the previous fiscal year.
Five new passenger aircraft were put into operation during the period, bringing the airline’s total fleet to 145.
“With the addition of five international and three domestic destinations, the airline’s network expanded to 139 international and 21 domestic destinations, excluding the Addis Ababa Bole International Airport,” Mesfin said.
Mesfin further said the airline expects to carry 20 million passengers in the financial year that started in July and plans to add five new routes.
The airline has also ordered 125 more planes, in addition to the 20 previously ordered, noting a shortage of aircraft due to the non-availability of the planes ordered from Boeing.
Mesfin also announced that the construction of new airports in Yabelo, Mizan Aman, Gore Metu, Negele Borena, and Debre Markos is expected to be completed by the middle of the 2024/2025 Ethiopian budget year.
