Ethiopian Airlines has announced a strong performance for the 2023/2024 fiscal year, raking in USD 7.02 billion in revenue. This represents a 14% surge compared to the previous year.
The carrier’s passenger services contributed significantly, generating USD 5 billion, while cargo operations brought in USD 1.65 billion. Despite challenges including fuel shortages and flight restrictions, Ethiopian Airlines managed to transport over 17 million passengers and expand its network to 139 international destinations.
The airline has also made progress in infrastructure development, with new airports set to open in multiple locations across Ethiopia within the next year. An investment of over USD 458 million was channeled into capital projects.
However, the carrier acknowledged ongoing challenges such as instability and a shortage of spare parts. The airline’s CEO emphasized the importance of complying with international regulations and providing exceptional passenger care.
Ethiopian Airlines operates to 136 international destinations, including 63 African cities, making it the airline with the most extensive intra-African network. In December 2011, it joined Star Alliance, enhancing its global connectivity. The airline has been consistently recognized for excellence, earning awards like Skytrax’s Four-Star Airline Certification and Best Airline in Africa. Over the past decade, Ethiopian Airlines has maintained an average growth rate of 25%, surpassing its Vision 2025 strategic goals ahead of schedule. The airline has now embarked on a more ambitious strategic plan, Vision 2035, to continue its growth trajectory.
Source: The Ethiopian Herald
Additional source: Ethiopian Airlines
