Ethiopian Airlines announced that its annual revenue had grown by 40 percent in the 2010/11 fiscal year which ended on 7 July 2011. The airline made it in spite of airplane fuel price hike, Tewolde Gebremariam, CEO of the carrier, said.

According to Tewelde, the number of passengers Ethiopian carried in the 2010/11 fiscal year has also grown by 34 percent. 

Ethiopian Airlines flies to 63 destinations around the globe and to 17 destinations locally. According to Tewelde, flights to Banguwi, Hanju, Malacal, Milan and Muputo were launched in the fiscal that just ended. 

The fuel price hike has claimed 41 percent of the airline’s expenditures according to the ailines’s CEO.

Source: Walta Information Centre