Browsing: Ethiopian Airlines Group

• Since he became the CEO in 2011 to his retirement in 2022, yearly turnover grew from US$1 billion to US$4.5 billion
• Ethiopian Airlines’ fleet increased from 33 to 131 planes, and passengers grew from 3 million to 12 million passengers a year
• Tewolde explained that his decision to resign came after advice from his doctors to concentrate on his health

Last week, Mr Ato Tewolde Gebremariam, The Chief Executive of Ethiopian Airlines, retired for undisclosed health reasons. The Airlines will remember the honourable man for the revolution he brought from the day he got the main man job. Since he became the CEO in 2011 to his retirement in 2022, yearly turnover grew from US$1 billion to US$4.5 billion. The fleet increased from 33 to 131 planes, and passengers grew from 3 million to 12 million passengers a year.

He started working for the Ethiopian in 1985 as a transportation …

Africa is set to become one of the fastest-growing regions for aviation in the next 20 years with an annual expansion of nearly 5 per cent, according to the International Air Transport Association (IATA).

According to the International Air Transport Association (IATA), this growth is being driven by African and international carriers adding more routes on the continent and scaling up their operations by acquiring or getting partnerships with other airlines operating in the region.

Turkish Airlines in the past decade tripled the number of African cities it serves from 18 to 56, while other Middle Eastern, European and Asian airlines, are adding routes as well.

Meanwhile, other African carriers are rushing to raise capital to fund their expansion, by offering to sell stakes in their companies to other airlines on the continent.

Like in 2018 Ethiopian Airline, the continent’s largest airline by revenue and profit signed a deal to …

Ethiopian Airlines Group to consider buying a stake in South African Airways (SAA) should South Africa decide to sell equity in the struggling state carrier.

Since 2011 South African Airways has not made profit, the airline delayed the release of its annual earnings due to its precarious financial state.

Group Chief Executive Officer of Ethiopian Airlines, Tewolde GebreMariam said that despite the African National Congress saying it would consider selling equity in the airline, there has been no visible strategy for such a plan.

“We are interested in supporting South African Airways,” he said in an interview at Ethiopian’s head office near Addis Ababa airport.

He added that if South Africa asked Ethiopian to buy a stake they would consider it. Ethiopia and SAA are already partners in the Star Alliance.

Tewolde said that the group had discussions with SAA’s former Chief Executive Officer Vuyani Jarana before his resignation in …

The state-owned Ethiopian Airlines Group made a total profit of 8.9 billion birrs ($326 million) before tax.

The Ethiopian Airlines Group made the revenue from transporting passengers and goods as well as providing other services by its group’s companies such as training, catering among others. This is according to a report done by the Ethiopian Public Enterprises Assets and Administration Agency, which evaluated the performance of the Group.

The report shows that from the total revenue the company generated, $3.9 billion is collected in hard currency from international customers.

During the current Ethiopian year which started on July 8, 2019, Ethiopian Airline Group has planned to collect total revenue of 155 billion birrs which is about $5.7 billion. It also stated that the group aims to report a gross profit of 19 billion birrs which is about $696 million at the end of the year – July 7, 2020.

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