Ethiopian Airlines was making $120 million a month at a time when many airlines were seeking rescue packages and subsidies. How was that possible?
June 2, 2020
No airlines are left untouched by the monstrous Coronavirus pandemic. But the way Ethiopian airlines responded to the situation rather turned out to be a new opportunity.
By late March 2020, the airline already lost the bulk of bookings for international flights. A $550 million loss in revenue was reported in early April. A little later, the Airlines suspended over 80 percent of its international destinations grounding over 90 airplanes.
Despite the struggles with the loss of income, the airlines announced that it will not lay off although there was an accusation from the Union that contract workers (Ethiopians, not expatriates) are facing layoffs which the airlines denied.
It was then that the airlines ventured into cargo service in a bid to withstand an economic disaster.
Not before long, the airlines realized that expanding the cargo service is not a matter of choice but of necessity for which the dozens of passenger planes were transformed into cargo planes by tapping in-house technical expertise – which is another stream of income for Ethiopian.
Ethiopian Airlines embarked on transporting COVID 19 related medical supplies, among other items, to several international destinations in Asia, Latin America, and Africa.
There were some opportunities in the passenger’s business too as Ethiopian Airlines was selected to evacuate stranded citizens of some countries. It has evacuated hundreds of Canadians from Africa, for example.
In consequence, Ethiopian Airlines managed not only to survive under the circumstances of the economically affected aviation industry but also it managed to support the Ethiopian economy.
CEO of the airlines, Tewolde Gebremariam, told local state-owned Ethiopian News outlets that Ethiopian was generating up to $120 million dollars per month.
The amount covered the airlines’ expenses that no borrowing or government subsidy was needed.
At times, Ethiopian transported up to 300 tonnes of flowers to different countries daily, according to a report by Ethiopian News Agency.
The Islamic Holy month of Ramada brought another opportunity for Ethiopian cargo service as it was transporting meat products to the gulf countries.
Over 90 percent of the fleets are still grounded.
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It shows that this airline is equipped with geniuses from top to the bottom. It is run by the best of the best the old country have always produced. When other airlines are shuttering their doors and firing their employees at the same time going around panhandling for handouts, this pride of that gem of the colored knows to keep plugging away still maintaining its workforce with the same level of loyalty. Geniuses, geniuses, geniuses!!!! You heard me right! Just unmatched geniuses!!!
Ok Satoshi Kanazawa!!! In your bigoted face!!!! How About You Looking At the Moon and Eating Your Crow!!!
Ethiopian Airlines (EAL) is, in my opinion, the best Business Organizations in Ethiopia. What is so unique and exemplary about EAL is that — ever since its creation — it has been an efficient and foresighted business organization under every General Manager with the only exception, at the initial stage, where the General Manager of the Airline was an American [for less than three years) from Trans World Airlines (TWA).
The business trajectory of Ethiopian Airlines is simply an extraordinary achievement to be, deservedly, not only the pride of Africa but also one of the best Airlines around the Globe. Keep on flying high and right, EAL.
Great leadership. Pride of all black people around the globe. Well maintained tradition of leadership and business management for over 70 years.
Individuals and groups bent on destroying Ethiopia are working day and night to tarnish the image of Ethiopian Airlines. Social medias are their favorite portals. Those collect advertisement fees based on number of viewers and duration of views, and hence have monetary incentives to spread sensational lies to attract viewers; YouTube is a well known medium for those types of folks, who spread their lies from safe heavens in far away places such as Minnesota in the USA. Minnesota is also a favorite base for this or that ‘Liberation Fronts’ that use their self appointed designations to swindle money thereby lazily collecting money to liberate themselves from poverty on the backs of unsuspecting hard working gullible folks.