This archive report was first published on 13 September 2019.
On September 13, 2019, Ethiopian Airlines revealed a significant surge in its operating revenue for the year ending June, as a substantial increase in passenger numbers helped offset the impact of higher fuel costs.
The airline, Africa's largest, saw its operating revenue rise by 17% in dollar terms, while passenger numbers increased by 14% during the same period.
Notably, the airline's passenger numbers were bolstered by the fact that planes were three-quarters full on average, a key performance measure for the industry.
Despite a 25% increase in fuel costs, the airline managed to maintain its growth trajectory, flying 12.1 million passengers during the period.
According to the airline, it offered 13% more flight seats per kilometer during the reporting period, further contributing to its revenue growth.
As the airline prepares to release its full set of results in the next two weeks, it has expressed confidence in its ability to continue its fast, profitable, and sustainable growth.
"In one of the most challenging years, we managed to continue our fast, profitable and sustainable growth," the airline stated in its preliminary results shared with Reuters.
