Ethiopian Airlines posts 14% jump in full-year revenue

Ethiopian Airlines posted revenue of US$7 billion for its 2023/24 financial year, up from US$6.1 billion a year earlier, helped by higher passenger numbers, state-owned Ethiopian Broadcasting Corporation (EBC) reported yesterday.

The airline carried 17.1 million passengers in the same period, up 23%, the broadcaster quoted Ethiopian Airlines CEO Mesfin Tasew as saying at a results press conference.

Mesfin said the airline expects to carry 20 million passengers in the financial year that started in July and plans to add five new routes, the EBC reported.

Africa's biggest airline has also ordered 125 more planes, he said without disclosing further detail.

Last May, Mesfin said he expected the airline to transport 30% more passengers in the 2023/24 year, buoyed by new routes and a rebound in global travel.

- Reuters