Ethiopian Airlines poised to purchase 20 planes this fiscal year

Ethiopian Airlines _ CEO
Tewolde Gebremariam, Ethiopian Airlines CEO. (FBC)

October 3, 2019

The Ethiopian budget year that has just ended was a difficult one due to a brand new Boeing Max 737 plane tragic accident that claimed the lives of 157 people from more than 35 countries.

Yet, Ethiopian Airlines was trusted by 12.5 million passengers from around the world and the airlines also expanded destinations across the world Fana Broadcasting Corporate (FBC) cited CEO of the airlines Tewolde Gebremariam as saying in its report on Wednesday this week.

What that means is that, according to the CEO, the number of Ethiopian Airlines customers has not declined.  Boeing Company has admitted defects about its products, particularly Max 737, and moved in the direction of paying compensation for victims of the accident. Tewolde seems to think that Boeing’s move to take responsibility for the defects of its products has helped maintain the reputation of Ethiopian airlines around the world.

However, the rise in the price of fuel in the world market has negatively impacted profit margin of the airline.

In the current Ethiopian fiscal year (2019/2020), Ethiopian Airlines is planning to undertake expansion work locally and internationally.

Domestically, the construction of airports will take place in Debre Markos, Metu, Borena, Yabelo, and Mizan. Completion of those ones who are already under construction and expansion work for terminals are among the works planned for this year.  5 billion Ethiopian birr is allocated for the expansion work.

Internationally, the airlines plan to increase destinations in Africa and around the world. The CEO said that a particular focus in that area is cargo flight expansion to Latin American countries.

Currently, Ethiopian Airlines has well over 100 destinations in Africa, Europe, North America, South America, Asia, and Australia.

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