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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

National Airways, a private airline established last year, announced that it was preparing to float shares to the public.

Established with a 10 million birr capital in July 2010, National Airways was licensed by the Ethiopian Civil Aviation Authority (ECAA) and the Ethiopian Investment Agency. 

Proceeds of increase to expand Acazis's peanuts cultivation in Ethiopia

The board of ACAZIS AG has decided, with the consent of the Supervisory Board of Directors, to raise the company’s share capital by issuing up to 3,136,314 new shares. The current share capital will therefore grow from €1,568,157.00 to €4,704,471.00 in exchange for a cash contribution.

The House of People's Representatives July 5, 2011 yesterday approved 118 billion birr budget for the 2011/2012 fiscal year. The budget approved yesterday is greater by 30 billion birr than the budget for the 2010/11 fiscal year.

Prime Minister Meles Zenawi said that the budget was prepared based the country's interest and capacity.