ETHIOPIAN AIRLINES SHOWS HOW AN AFRICAN AIRLINES SHOULD BE RUN – PROFITS UP – PASSENGERS UP – AIRCRAFT DELIVERIES UP
(Posted 18th September 2019)
The announcement of the results of the financial year 2018 / 2019, which ended on 30th of June, once again showed why Ethiopian Airlines remains Africa’s leading carrier and in more than one respect.
The company’s net profit for the year jumped 18 percent, with the actual figure of the previous year standing at an already astonishing 210 million Euros, given that the rest of the major African airlines continues to write deep red figures if not dancing along the abyss of bankruptcy. This must also be seen against the backdrop of sharply risen fuel cost which generally are even higher than world average in Africa.
This puts into perspective the level of leadership continuity Ethiopian Airlines displays in contrast to some other African airlines, which suffered a regular exodus of CEO’s in the case of South African Airways and the CEO throwing in the towel due to abysmal failure to turn the airline around in the case of Kenya Airways.
Ethiopian’s passenger numbers for the first time exceeded 12 million travelers uplifted, a figure up by some 14 percent from last year’s 10.6 million passengers.
This too is a major milestone for Ethiopian Airlines and the new terminal building, while sections are still being completed, has aided the airline in accomplishing that goal.
Ethiopian Airlines presently operates 117 aircraft, both passenger and freighters, and has indicated that they will continue to take delivery of new aircraft by in average one new plane a month, needed to continue the aggressive rollout of additional destinations across Africa and the rest of the world.
