Ethiopian Airlines reports higher profit

“This is an extraordinary achievement given the depressed state of the world economy and the enormous consequent challenges being faced by the global aviation industry”, said Gavin Simpson MD of Holiday Aviation, the ET GSA in SA “With global passenger volumes now falling dramatically, Ethiopian Airlines is surely the shining light on the African continent...ET currently operates a daily service between JNB and Addis Ababa using a Boeing 737-700 with good connections beyond Addis. In view of traffic growth the aircraft will be upgraded to a Boeing 757 within a matter of weeks, increasing capacity by approximately 50% on the route”, added Gavin.

According to Girma Wake the CEO of ET, the airline remains optimistic that its performance will be sustained going forward, considering the strategic cost reduction initiatives and the improved operating procedures that have been put in place to address the current market conditions.

The number of passengers transported for the period increased by 19% to 1.5 million and the airline carried 55 thousand tons of freight, representing a whopping 101% increase over the same period last year. The increase has been attributed to improved operating efficiencies, growth in traffic, more frequencies and the launch of additional routes on the airline's growing international network.