Ethiopian Airlines soars with eight per cent revenue growth despite global disruptions
Cargo operations also played a key role in the airline's performance, with 785,323 tonnes of freight moved over the period under review.
Ethiopian Airlines recorded an 8 per cent revenue growth for the 2024/25 financial year, earning $7.6 billion (Sh981.9 billion), despite facing significant operational hurdles during the period, including disruption of services across international markets.
Passenger traffic on the state-owned airline grew by 11 per cent to over 19 million in the year ending July 7, comprising 15.2 million international and 3.9 million domestic travellers.
Cargo operations also played a key role in the airline's performance, with 785,323 tonnes of freight moved over the period under review.
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Ethiopian Airlines CEO Mesfin Tasew has attributed the growth to the launch of six new routes and the acquisition of 13 new aircraft, including four Boeing and three Airbus models, enhancing both its fleet and global reach.
"It was a good performance despite global challenges," Mesfin told journalists at a press conference on Tuesday, citing ongoing conflicts in Sudan, the Democratic Republic of Congo (DRC), Ukraine and the Middle East.
He also pointed to recent regulatory changes in the United States as having hampered operations in that market. The airline, which now boasts a fleet of over 150 aircraft, also continues to grapple with global supply chain issues affecting engine maintenance, resulting in several grounded planes.
"Despite these challenges, the global air transport industry managed to serve 5 billion customers," said the CEO.
According to Addis Standard, the airline's CEO also chimed in on the unresolved issue surrounding Ethiopian Airlines' frozen bank account in Eritrea, which prompted the suspension of flights to Asmara in September last year.
He confirmed that the funds remain unrecovered, despite legal efforts, but clarified that the airline still operates through Eritrean airspace for its international flights, dismissing reports that access had been revoked.
"We pursued legal measures to recover the money through the courts, but the efforts were unsuccessful. Therefore, the issue is a political decision," he said.
Ethiopian Airlines currently serves 21 local airports and is expected to add six more within the next half-year, according to Mesfin.
In June, Mesfin also revealed that the carrier is considering acquiring at least 20 smaller regional jets to boost domestic operations and phase out older aircraft.
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