ETHIOPIAN Airlines continues its trajectory of success as the airline announced a remarkable 20 percent increase in revenue for the latest financial year. Despite challenges such as the Russian-Ukrainian war and soaring jet fuel prices, the Ethiopian flag carrier achieved revenues of $6.1bn, according to Chief Executive Mesfin Tasew. In addition, the airline carried 13.7 million passengers and transported 723,000 tonnes of cargo during the twelve-month period.
A key factor contributing to Ethiopian Airlines’ growth was its strategic expansion initiatives. The carrier expanded its passenger fleet by 11 aircraft, leading to increased Available Tonne Kilometre (ATK) capacity, as reported by Reuters. Over the years, Ethiopian Airlines has successfully positioned itself as a global player, serving as a crucial link connecting Africa with the rest of the world. With its hub in Addis Ababa, the airline operates flights to 148 destinations in 83 countries, offering customers a network of 237 routes, as noted by ch-aviation.
During the latest financial year, Ethiopian Airlines further extended its reach by adding three new international destinations to its network. These include Copenhagen (CPH) in Europe, Atlanta (ATL) in the United States, and Karachi (KHI) in Pakistan. Since joining the Star Alliance in 2011, Ethiopian Airlines has benefited from its 26 partner airlines, expanding its global presence and enhancing its commercial appeal.
As part of its ongoing expansion strategy, industry experts suggest that Ethiopian Airlines will need to invest in expanding its fleet. The airline’s CEO recently mentioned the possibility of ordering additional widebody aircraft to increase passenger and cargo capacity. However, the specific manufacturer has not been disclosed. The carrier has shown satisfaction with the performance of the Airbus A350-900 from its current fleet. The decision on which aircraft to invest in for fleet expansion is a complex one and will be revealed in due course, according to aviation writer Giacomo Amati.