Tuesday, 8 September 2015

Airline Updates: Ethiopian Airlines

Ethiopian Airlines Posts More Profit Than All Other African Carriers Combined

Ethiopian Airlines’ $175 million profit for the 2014/15 fiscal year is more than what the rest of Africa’s airline industry posted over the same period. Ethiopian Airlines has been the most profitable in Africa for several years, exceeding its revenue and profit targets for the fiscal  year.

“We had planned for 43 billion birr by 2015, but in the last fiscal closed at about 49.4 billion birr in revenue. The same with profitability,” explains Ato Tewolde Gebremariam, CEO of the Ethiopian Airlines Group,

The state-owned carrier said it plans to increase its fleet to 140 aircraft by 2025, when it expects to be generating over $10 billion on annual revenue. At the moment it has 76 planes and recently announced plans to increase this by 60 percent by buying 44 new aircrafts. 

While other major African airlines, including Kenya Airways and South African Airways, fall deeper into losses, Ethiopian Airlines has grown its revenue and expanded its routes to  become the most networked carrier on the continent.

Collectively, Other African Airlines are  expected to post a profit of barely $100 million the lowest of all regions, according to the  International Air Transport Industry Association (Iata). They are also expected to see the  slowest growth among developing markets with capacity and demand expansion of 3.3  percent and 3.2 percent respectively this year. 

Ethiopian Airlines flies between Addis Ababa and Mahé Island, Seychelles, offering flights every Monday, Wednesday, Friday and Sunday. Mason's Travel is the GSA for Ethiopian Airlines in Seychelles.

[PLEASE NOTE: As of 26 October 2015, the above mentioned flights will be on Monday, Tuesday, Thursday and Saturday]

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