africa Aviation development Economy Ethiopia industry and commerce Infrastructure

Ethiopian Airlines increase pax by 21% to reach 10.6 million

Approximate reading time: 2 minutes

Ethiopian is at par with the global airlines after receiving a 4 star rating from SKYTRAX, that recognised it as Best Airline in Africa.

 

Africa’s largest airline Ethiopian Airlines continues to impress the aviation sector and stiffen competition with jaw breaking performances. The national carrier of Ethiopia has a number of awards under its belt and is looking string to break its own record too. The airline has outpaced fellow competitors in Africa’s battle for the king of the wing including Kenya Airways, a potential rival in the East African market. With other carriers looking to make an impact in the aviation sector, Ethiopian has made history once more.

The fully State-owned company increased grew its passengers by a mere 21% to reach a milestone of 10.6 million passengers. This was a significant rise to overshadow its hitherto success of 10 million passengers. The statistics affirm the company’s prowess and dedication to remain at the pinnacle of the industry. The achievement was attained within the confinement of its financial year budget 2017/18.

In its bid to remain a major contender in the skies, the company added 14 crafts to its fleet, to increase flights frequency, accommodate more passengers and expand its reach to a potentially wider market. Undoubtedly, their performance has rewarded the Government handsomely. Their operations have increased tourism receipts, created more employment opportunities and played a fundamental role in growing the sector. Their contribution to the country’s GDP has built a stronger economic empire for the citizens.

The addition of cross-continental flights to Switzerland, USA and Argentina have acted as bridges to lure investors to the country. The firm has seen a growth in cargo volumes that went up by 18% to reach 400, 339 tons. The opening of a new state of art terminal in June 2017 has catapulted the cargo numbers with network expansions adding an icing to the cake.

Ethiopian’s net profit settled at 257.2 million, as operations revenue went up by 49% $3369 million. More improvements are anticipated which would see the airline perform even better.

Source: The Exchange

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.