Ethiopian Airlines plans to double the number of destinations and fleet size in about 13 years.
Ethiopian Airlines this week announced its new strategic growth plan. In an interview with the state media, Mesfin Tassew, the CEO, said that Ethiopian Airlines plans to generate $25 billion by 2035.
The strategic plan is hinged on two factors. Growing the number of passengers it is serving across its destinations and increasing the volume of cargo service.
It aims to transport over 65 million passengers ( doubling the current figure) and transport over 3 billion tonnes of goods in cargo services.
Based on the remarks from the CEO, the focus of the strategic plan is maintaining the growth pattern in the industry and enhancing it.
Currently, Ethiopian Airlines has about 131 destinations around the world. 22 of them are local destinations. Domestic service has demonstrated remarkable growth. This week, the airline announced that it has finalized plans to resume flights to different destinations in the Tigray region of Ethiopia.
By 2035, Ethiopian Airlines aims to have over 207 destinations across the world. In terms of fleet size, the airline currently has 140 planes.
It aims to increase it to 271 planes by 2035.
Ethiopia has the plan to build a $5 billion worth largest airport outside of the capital Addis Ababa. It will be located near Debre Zeit ( Bishoftu) – only about 44 kilometers South East of Addis Ababa.
The current airport has seen an extensive expansion in response to growth in the number of passengers transiting through Addis Ababa. About $363 was injected into the project. The terminal is now capable of handling up to 22 million passengers.
Ethiopian Airlines contributes the lion’s share of Ethiopia’s revenue from the service sector. At a time when the airline industry was hit with the Coronavirus pandemic, Ethiopia managed to avoid layoffs.
The management came up with a plan to convert passenger planes to cargo to enhance cargo service. The target was to tap into the rise in cargo service delivery demand due to the delivery of coronavirus supply kits. It even became profitable.
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