Ethiopia Airlines plans to add 14 more new aircraft to its fleet this year as part of efforts to increase revenues by five fold in 
2025 according to Tewolde Gebremariam, Chief Executive of the airline.
The company is an a phase of ‘fast growth’ targeting annual sales of 10 billion US dollars by the end of its Vision 2025 plan, which also entails increasing its fleet to 120 aircraft said Tewolde.
The airline is committed to re-investing profits in financing infrastructural development and in building a new fleet which means considerable investment he said.
The carrier is expecting to divide its operations into seven sectors which include freight, aviation academy and maintenance and repair units.Maintenance and repair is expected to generate at least 50% of the revenue anticipated by the airline by 2025 explained Tewolde. The airline expects to form the units this financial year he added.
The growth envisioned may be difficult to realize just by offering services but the plan call for developing the services as business units said Tewolde.
Ethiopia is planning to expand Bole International Airport to meet the demands of increased business by the airline and plans for a second international airport around Modjo are also underway said Tewolde.
Ethiopian Airlines also operates another hub in Lome, Togo in partnership with ASKY Airlines, in which Ethiopian has a 40% stake and which it also manages he noted. The airline is planning similar ventures in Southern African and potentially in Zambia according to Tewolde.
Source: Bloomberg
