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This Fiscal year proved to be a success story for Ethiopian Airlines

Ethiopian Airlines _ Eritrea
Source : Airlines rating

August 11,2018

Ethiopian Airlines CEO, Tewolde Gebremariam, calls this fiscal year 2017/18 “an exceptional year for Ethiopia.” And he explained it why it was so.

With 43 percent growth in operating revenue, the airline has certainly pushed further the borders of its performance history. The success, according to Tewolde, is rather a well rounded one, not just financial.

“This historical performance is, due first and foremost, to the commitment, hard work and competence of my 16,000 colleagues with each one of them at all echelons of the company playing a critical role in this success,” says Tewolde Gebremariam.

The airline has added 8 new international destinations in Europe, North America, Africa and Latin America and has acquired 14 new air crafts. Currently, it is the only airlines with 100 air crafts in the continent and flying well over 100 destinations across the world. Last month, Ethiopian also resumed flight to Asmara, capital of Eritrea, following peace deal between the leaders of the two countries.

The number of clients that used the airlines grew by about 21 percent compared to the previous fiscal year. It transported 10.6 million passengers to international and domestic destinations.

In terms of cargo service, an increase of 18 percent is recorded compared to the year 2016/2017.

Ethiopian Airlines is also priding itself with significant improvement in quality of service delivery and customer service.

Net profit for the year is reported to be ET 6.8 billion birr which is about $US 233 million, record high but may not be high enough viewed from earning potential of the Airlines with over 16,000 employees.

Ethiopian says this year’s performance is in line with its strategic plan and its vision for the year 2025.

Tewolde Woldemariam said:

    “The historical performance attests the soundness of our fast, profitable and sustainable growth plan, Vision 2025. During the next 2018/19 fiscal year, we aim to further grow our network, introduce record number of modern fleet and greatly enhance the on-ground customer service at our main hub with the opening at the end of 2018 of the newly expanded and significantly upgraded airport terminals in Addis Ababa.”

Ethiopian announced today that it is planning to acquire about 49 percent share from Chad Airlines.

This year Ethiopian government announced plans to partially privatize the Airlines which is presumed to make the airlines more successful. Details of it are not yet known to the public. However, the prime minister has already formed an advisory council in order to make the privatization process transparent and accountable.

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