Ethiopian Airlines, Africa’s largest carrier, is gearing up for an ambitious fiscal year with targets set to achieve $7.3 billion in revenue, a 20% increase from its 2021 figures.
The airline also aims to airlift 18 million passengers during the fiscal year, signaling a 40% growth compared to the previous year’s 13.9 million passengers. In a conversation with selected journalists in Addis Ababa,
Mr. Mesfin Tasew, the Group Chief Executive Officer of Ethiopian Airlines, expressed the airline’s impressive recovery from the challenges posed by the COVID-19 pandemic. Tasew highlighted the remarkable performance of the airline in the previous fiscal year, which saw a 14% increase in passenger numbers compared to pre-COVID levels.
Ethiopian Airlines demonstrated resilience by carrying over 716,000 tons of cargo using 14 dedicated freighter aircraft. The airline expanded its network, adding eight new destinations and restoring suspended routes affected by the pandemic. The financial success was evident as the airline generated a total revenue of $6.1 billion and a profit exceeding $800 million.
Tasew outlined the growth plan for the current fiscal year, part of the airline’s 15-year long-term strategy known as Vision 2035. The plan includes increasing the annual passenger count to 18 million, transporting over 820,000 tons of cargo, opening new routes in Europe, Asia, and Africa, and expanding the network to include Hanoi, Vietnam.
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Ethiopian Airlines aims to achieve $7.3 billion in revenue, showcasing an aggressive growth strategy. The ambitious targets set by Ethiopian Airlines underscore its pivotal role in shaping the development of the aviation industry in Africa and its commitment to sustained growth and excellence in the global aviation landscape.
