One other successful 12 months for a carrier whose growth continues unbroken. Ethiopia’s flag carrier, Ethiopian Airlines, reported a solid financial 12 months for 2022/2023, with earnings up 20% in comparison with the previous 12 months.
Ethiopian Airlines toasts 20% increase in earnings
Ethiopian Airlines continues on its path toward success. In its latest financial 12 months, the airline reported a 20% revenue increase. Moreover, within the financial 12 months 2022/2023, the Ethiopian flag carrier further implemented growth strategies, including fleet and network expansion and increased cargo capability.
Based on the airline’s Chief Executive, Mesfin Tasew, the airline’s revenues in the most recent financial 12 months equaled $6.1 billion, a slightly impressive result if one considers the beginning of the Russian-Ukrainian war and the unprecedented spike in jet fuel prices that followed. Throughout the twelve fiscal months, Ethiopian Airlines carried 13.7 million passengers, to which one needs so as to add 723,000 tonnes of cargo.
Photo: Philip Pilosian/Shutterstock
An expanding carrier
The increasing passenger and cargo capability in comparison with the previous financial 12 months was also possible due to Ethiopian Airlines’ expansion strategies.
Based on Reuters, Ethiopian increased its passenger fleet by 11 aircraft, which should have impacted the carrier’s Available Tonne Kilometer (ATK). A sum-up of the carrier’s industrial fleet composition based on ch-aviation data is illustrated within the table below.
Aircraft Type |
Energetic |
Inactive |
Total |
To be Delivered |
Airbus A350-900 |
20 |
20 |
||
Boeing 737-700 |
3 |
2 |
5 |
|
Boeing 737-8 |
13 |
13 |
17 |
|
Boeing 737-800 |
8 |
3 |
11 |
|
Boeing 767-300ER |
1 |
1 |
||
Boeing 767-300 |
2 |
2 |
||
Boeing 777-200LR |
6 |
6 |
||
Boeing 777-300ER |
4 |
4 |
||
Boeing 787-8 |
19 |
19 |
||
Boeing 787-9 |
8 |
1 |
9 |
|
DHC-8-Q400 |
30 |
30 |
The next table, alternatively, sums up Ethiopian’s cargo capability.
Aircraft Type |
Energetic |
Inactive |
Total |
To be Delivered |
Boeing 737-800 |
4 |
4 |
||
Boeing 777-200 |
9 |
9 |
Over the many years, Ethiopian’s management has succeeded in positioning the airline as a really international player, which plays a pivotal role in connecting Africa to the world. Based on ch-aviation, Ethiopian leverages its hub in Addis Ababa to fly to 148 destinations in 83 countries, offering its domestic and international customers a complete of 237 routes.
In the most recent financial 12 months, the Ethiopian flag carrier further expanded its network by adding three international destinations to its network: a European one, Copenhagen (CPH), one within the US, Atlanta (ATL), and Karachi (KHI) in Pakistan. By joining Star Alliance in 2011, the carrier can depend on its 26 partners to further expand its global reach, thus increasing its industrial appeal.
Based on the carrier’s continuous expansion strategy, the airline can have to take a position in further expanding the fleet. Earlier this month, the carrier’s CEO stated that Ethiopian is considering ordering additional widebody aircraft to further boost passenger and belly-hold cargo capability. Nonetheless, nothing was said about which manufacturer the airline will select. Nonetheless, from the present fleet, one can tell the airline is sort of satisfied with the performance of the Airbus A350-900. Nonetheless, selecting which aircraft to take a position in to expand the fleet is undoubtedly no picnic, so only time will tell.
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