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.
Ethiopian Airlines, Ethiopia’s flag carrier, revealed its new and enhanced website. The newly redesigned website is expected to be more user friendly.
The airlines’ is delighted to improve its customer’s ability to do business with it by enhancing the website said according to Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airlines.
The newly redesigned website will support the airline’s global call center and the various agent offices to be found around the world allowing customers a range of options to communicate and interact with Ethiopian he said.
Ethiopian Airlines received the Transformation Award from Planet Africa Network at an event held in Toronto earlier this week.
Ethiopian received the award for transforming lives in the African Diaspora through its efficient aviation services.
The award ceremony was attended by Mr. Bal Gosal, Canadian Minister of State for Sports, Mr. Howard Eng. Chief Executive of the Greater Toronto Area Airport, Ato Tewolde Gebremariam, Chief Executive of Ethiopian Airlines and other dignitaries.
Ethiopian Airlines announced that it amassed a revenue of USD 5 billion during the 2021/2022 fiscal year. Out of the total revenue, the company gained a net profit of USD 937 million. It registered a 79% growth when compared to the 2020/2021 fiscal year.
The airline's success was registered despite global economic pressures that included rising fuel cost. The airline was also able to collect five international aviation awards during the past fiscal year.
