Ethiopian Airlines announced that its operating revenue has increased by 14pc from last year as revenue increased to 38.5 billion br, up from 33.8 billion br a year earlier, despite soaring fuel prices and the grounding of Dreamliner 787s for several months. Its operating profit also rose to 2.7 billion birr ($142.85 million), up from 1 billion br a year ago, boosted by growth in its fleet, destinations and passenger numbers, the national carrier announced.
According to the airline this year’s net profit, which registered 2.03 billion br. increase, up by 178% over that of 734 million br of last year’s profit, was due to the hard works of its employees and management as well as to the airlines’ long term strategy.
The news came about regardless of a fire incident two months ago at Heathrow airport of Ethiopian airlines owned 787 and a separate technical problem on a second Dreamliner, owned by Britain’s Thomson Airways, which raised new questions about the safety issues of Boeing’s new planes.
Boeing’s 787 Dreamliner has suffered a series of problems since coming into service, including a global grounding of its fleets last year.
Tewolde Gebremariam, CEO of Ethiopian said that the airline, which currently has five Dreamliners, was negotiating for compensations from Boeing but gave no details owing to the confidentiality of the negotiation.
The Airline also says it is in the process of opening up new routes to South East Asian countries, with new routes expected to start later this year to Hanoi, Vietnam and Manila, Philippines. This year alone, the national carrier has opened eight new international flights and has increased frequencies to nine existing routes.
The airline envisions to become the leading aviation group in Africa by 2025. Beyond the passenger airline business, the Aviation Group plans to diversify into seven profit centers with ten billion dollars in revenue. The profit centers of the Ethiopian Aviation Group are: Ethiopian Cargo, Ethiopian Aviation Academy, Ethiopian Maintenance and Overhaul (MRO), Ethiopian International Passenger Service, Ethiopian Domestic and Regional Passenger Service, Ethiopian In-Flight Catering and Ethiopian Ground Services.
Ethiopia airlines joined Star Alliance, the world’s largest Airline network, in December 2011. This enables its customers to enjoy seamless travel experience allowing them access to 21,900 daily departures, 1329 destinations within 194 countries.
Ethiopian Airlines is Africa’s fastest-growing carrier, and one of the continent’s largest next to Egypt Air and South African airways.
Tewolde said that Ethiopian Airlines had leased three more Dreamliners, boosting its total 787 fleet to 13. It had received five Dreamliners already, and is expecting to receive the remaining eight by 2015.
Caption: Tewolde Gebremariam, CEO of Ethiopian
Photo: Ethiopian Airlines