Ethiopian airlines targets $10bn revenue

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ADDIS ABABA, AUGUST 15, 2017 – Ethiopian Airline says it is working to be a 10 billion dollar profit making organisation, fly 120 international and 26 domestic destinations by 2025.

Mrs Seble Azena, Manager Ethiopian Airlines Holidays, disclosed this while addressing Nigerian Journalists and Tour Operators, during a tour of the airline’s facility at Bole International Airport, Addis Ababa.

Azena said the airline’s current revenue for 2016 unaudited stood at 2.71 billion dollars with 100 international destinations and 17 domestic destinations.

She added that the carrier currently transported 8.8 million passengers annually with a total of 92 aircraft in its fleet while 59 aircraft have been ordered.

The manager also disclosed that the airline also transport about 238,000 tonnes of cargo annually using 39 wide body freighter aircraft across the globe.

“As the leading pan African Airline, we are targeting 10 billion dollar revenue by 2025 and we also target

“Today Ethiopian airlines is the second fastest growing carrier in the world. We transport 8.8 million passengers and about 338,546 tonnes of cargo per year.

“The revenue is 2.71 billion dollars revenue, our current fleet is 92 and we have 59 aircraft in order.

“Beyond the number of aircraft that the Ethiopian airlines have, the most interesting element is that the average age of aircraft is five years.

“We use Addis Ababa as our main hub and as such there is more congestion at the airport.

“To alleviate this and facilitate passengers movement within the continent and the globe, the airline has established two more hubs, one in Lome in west Africa and the other is in Lilongwe in Malawi in south Africa.

“We currently have 100 destinations, for cargo, we have 39 dedicated cargo freighter and 19 dedicated domestic destinations,’’ she said.

Azena disclosed that the airline’s new cargo terminal in Addis Ababa was the largest in Africa and second in the world, adding that the terminal would become the world’s largest by 2025.

She said the cargo terminal was designed as an automated terminal with the capacity to process 600,000 tons of cargo annually.

The airline’s official said the airline was currently contributing 11 per cent to the country’s Gross Domestic Product, adding that the country had invested so much in aviation industry.

According to her, the airline is willing to assist any African country to develop their aviation sector especially in setting up a national carrier through partnership.

She said that Nigeria had been the biggest market for the airline in the continent, saying that the country stood at number one in terms of volume of passengers.

“Nigeria got her independence in October 1960 and we commenced operation unto the country in November, just a month after the independence.

“Since then we have continued to operate there, Nigeria has our great ally and currently we are operating a number of destinations in the country.

“Nigeria is one of the leading economies in the globe followed by South Africa. So today, Africa is known for positive things with double digit economic growth,’’. She said.

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