CEO of Ethiopian Airlines, Mesfin Tasew, disclosed that the airline expected to transport 12.7 million passengers during the current fiscal year. The airline’s passenger business will recover to pre-COVID levels if it manages to transport passengers as planned. Ethiopian Airlines was able to give service to 8.6 million passengers in the previous financial year.
Ethiopia Airlines announced that it has postponed the opening of flight services to Seychelles. The Airlines made the decision to
postpone the expected flight services due to operational reasons according to a press release by the company.
Ethiopian expressed its regrets at any inconvenience that may be caused to its customers by the decision to postpone flight services. The Airlines has committed to make sure that all passengers with tickets and confirmed bookings are booked onto alternative flights.
The flights to Seychelles were expected to begin as of the 15th of November.
Source: Ethiopian Airlines Press Release
Ethiopian Airlines announced that it has postponed the launch of flight to Sao Paulo in Brazil because of an inconvenient time slot given the airlines. The airline announced that it will expects to launch flights to Sao Paulo in March instead of the originally intended December.
Ethiopian had anticipated launching thrice weekly flight to the Brazilian city through its hub in Lome, Togo.
The slot allotted to the airline by the airport administration authority of Sao Paulo is inconvenient and requires some additional discussion with Brazilian authorities said Tewolde Gebremariam, Chief Executive of the Airline.
Ethiopian Airlines has announced that it is in the final stages of preparations for the establishment of Nigeria's national airline. The airline will be a joint venture between Ethiopian Airlines and three Nigerian investors, with Ethiopian Airlines holding a 49% share.
The net profit of Ethiopian Airlines for the just ended Ethiopian financial year showed a decrease of 40% year on year. The airline earned 732 million birr which is 500 million birr less than the 1.23 billion it had earned in the previous financial year.
Ethiopian Airlines transported 4.6 million passengers in the past year showing a 25% increase and generated operating revenue 0f 33.8 billion birr, an increase of 37%. The operating expense of the airline also increased by 35% to 5.7 billion birr resulting in the airline making operating profits of 1 billion birr and net profits of 732 million birr.
The increase in fuel prices, the European economic crisis and the economic stagnation in China and other Asian countries all proved to be challenges for the airline industry in the past year said Tewolde Gebremariam, Chief Executive of the airline.
