This archive report was first published on 3 October 2019.
Published on October 3, 2019, Ethiopian Airlines has reported a significant increase in its operating revenue for the financial year that ended in June 2019.
The airline, Africa's biggest, saw its operating revenue rise by 17% in dollar terms, driven by a 14% increase in passenger numbers. This growth helped offset the high fuel costs.
Despite facing a devastating crash in March 2019, where one of its Boeing planes crashed after take-off from Addis Ababa en route to Nairobi, claiming all 157 people on board, Ethiopian Airlines managed to achieve consistent, fast, profitable, and sustainable growth.
According to the airline's Chief Executive Officer, Ethiopian Airlines plans to acquire 17 new passenger aircraft and launch flights to 11 new destinations. However, he warned that the US-China trade war could lead to an economic slowdown, negatively affecting demand for air travel.
