EAL remains profitable despite global economic crises and fuel price rises
(Jul 05, 2012)
Ethiopian Airlines (EAL) said that it has managed to register rapid and profitable growth over the last two years despite the global economic crisis and the rise in petroleum prices.
EAL said it had remained profitable and competent in 2011/2012 through its success in harmonizing its services with market requirements and by creating favourable flight conditions for its passengers.It had not been seriously affected like some other airlines by the rise in fuel prices, the global economic crises and from the political instability in the Middle East.
In the last two years alone, EAL had been able to launch eight new international flight destinations. It now flies to 67 destinations across the world, 42 of which are in Africa.
It transported 4.7 million passengers to different destinations during the 2011/2012 budget year alone, and this was an increase of over 24 percent over the previous budget year. This year the revenue of the airline is expected to exceed the US$1.5 billion earned last year by 36 percent.