Ethiopian Airlines pockets record high returns
By Tesfa-alem Tekle
August 13, 2009 (ADDIS ABABA) — The Ethiopian airlines promises a major growing power in the African aviation, recording a net profit of ETB1.35 billion ($117 million) in the just winding fiscal year, a 165% boost to that of profit earned past year.
According to a statement released by the Ethiopian national carrier, the company generated 12.2 birr revenue during the specified period of time, a 32.8 % increase to that of last year.
Chief executive of the state-owned airliner, Girma Wake noted that the Ethiopian Airlines performance is significant in consideration while many airlines across the world are witnessing a major down ward shake-up in their profits.
Due to global economic and financial mess-up, high fuel price and other related challenges, Several African airliners have suffered losses owing to decline in traffic from abroad.
Despite all the challenges however CEO Girma Wake said that the Ethiopian Airlines have secured all-time high profit and transported 2.8 million passengers this year, a 12.3 % increase over the prior year.
“The Ethiopian airlines is very optimistic and remains focused on its vision to 2010 to grasp its major objectives despite any constraints it could come across along the road,” Girma told Sudan tribune
EA is one of the largest airlines from the African continent, and one of the few flight operators that has made massive profits in the current global financial mess.
The airline is investing in the additional airplanes to expand its fleet and broaden its network. Last month EA announced an order for five Boeing 777-200LRs and additional 12 aircrafts from Airbus with an investment of 4.2 Billion USD.
The latest order has made it the first African carrier to order and operate with the ultra-long-range 777-200LR model.
Ethiopian was the first African carrier to order the 787 Dream liner, ordering 10 in 2005. Ethiopian Airlines currently serves to over 50 destinations worldwide and to over 35 destinations within Ethiopia.
(ST)
Freedom Fighter
Ethiopian Airlines pockets record high returns
I’m happy and proud of you Ethiopia. Your success is the success for the Horn of Africa and the whole continent as well. This huge profit for Ethiopian Airlines reflects sense of responsibility and good leadership of the Ethiopian people, which we badly need in Africa. With your good leadership we will bring an end to Arabs abuse of Africa, and restore our decision and dignity.