To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
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.
In a press statement released early this year by the Ethiopian airlines, it said that in less than a decade, Ethiopian Airlines has tripled the size of its fleet. It indicated that the airline now has 113 Boeing, Airbus and Bombardier aircraft flying to 119 international destinations in five continents.
The airline boasted of having tripled its passenger volume to flying more than 11 million passengers annually. This is despite it being one of the youngest fleets in the industry with their average fleet age being five years.
This comes after the Ethiopian government announced its plans to partially privatize Ethiopian Airlines Group, Ethiopia shipping lines, Ethio telecom and other big state enterprises including railways and electric services, among others. This is in a liberalization program meant to boost the country’s’ economic growth.
Majority stakes will be held by the state while shares in Ethio Telecom, Ethiopian Airlines, Ethiopian Power and the Maritime Transport and Logistics Corporation will be sold to both domestic and foreign investors.
The decision to liberalize the economy and privatize state-owned companies in aviation, banking and telecommunications, is part of reforms by Abiy Ahmed, the Prime Minister. This is as Ethiopia seeks to spur its growth and development by attracting more foreign direct investments.
Credit: Source Link