Ethiopian Airlines announced it has returned its B737 MAX back to the skies. The airline’s Board Chairman and Executives, Boeing Executives, Ministers, Ambassadors, government officials, journalists and customers of the airline have boarded the first flight, Ethiopian stated.
Ethiopian Airlines, Ethiopia’s flag carrier, was able to earn record operating revenues registering a growth of 50.4% in the first
two quarters of the financial year according to Tewolde Gebremariam, Chief Executive Officer of the Airline.
The higher earning of the airline enabled it to absorb the 55% in increase and remain profitable in spite of a declining profit margin said Tewolde.
The growth registered by Ethiopia from July 8-Janury 9, the first six months of the Ethiopian financial year, is remarkable he said.
United States’ Export-Import Bank approved a loan of USD 281 million to Ethiopian Airlines Group. The loan would be used to finance the import of several Boeing 737 MAX 8 aircrafts which will be fully imported by the end of March 2023. The Board of Directors of the bank approved the loan unanimously.
Ethiopian Airlines has secured a USD 450 million loan agreement to finance the acquisition of five new Boeing aircraft—three Boeing 737-8 and two Boeing 777F (Cargo).
Ethiopian Airlines is seeking to establish regional hubs in Southern and central Africa according to Tewolde Gebremariam, Chief Executive of the airline.
The airline management is in the process of holding talks with the governments of Zambia, Tanzania and the Democratic Republic of Congo to assess the possibilities of setting up regional hubs in these countries.
A delegation from Ethiopia traveled to Zambia last week to hold discussion with officials in Zambia on the possibility of establishing a hub in Lusaka. Ethiopia expects the Zambian capital to become its Southern hub particularly since that nation does not currently have a national flag carrier according to Tewolde.
