Ethiopian becomes the largest African carrier by revenue and profit

Friday 13th June 2014

Ethiopian Airlines, the fastest growing and most profitable African airline, has become the largest African carrier by revenue and profit according to the International Air Transport

Association's (IATA) latest airline ranking - published in the 58th edition of World Air Transport Statistics (WATS). With revenue topping $2.3 billion in 2013, this is the first time Ethiopian Airlines has achieved such a ranking in its 69-year operating history.

According to IATA, Ethiopian now ranks first in Africa and 37th in the world in terms of

revenue and first in Africa and 18th in the world in terms of operating profit. The historical ranking achieved by Ethiopian in 2013 is a testimony to the confidence of its passengers; the soundness of its 15 year strategic roadmap of fast, profitable and sustainable growth, Vision 2025; the strategic guidance and support of the airline's Board of Directors and the Government of Ethiopia; the dedication and competence of its management; and the commitment, skill and hard work of its employees.

Group Chief Executive Officer of Ethiopian Airlines, Tewolde Gebremariam comments: "The year 2013 marks a milestone year in the history of the airline. For the first time in our long history, we are number one in Africa in terms of revenue and profit. We owe this success, above all else, to the patronage of our esteemed customers, who are choosing to fly with us in ever increasing record numbers. I thank them on behalf of the entire Ethiopian Airlines family and pledge to them that we will continue to work hard to earn their confidence."

He adds, "This success is the result of the collective effort of the Board of Directors, the Management and the entire 8,000 plus Ethiopian Airlines employees, who toil night and day to make our beloved airline shine high in the sky. It is also a validation of our fast, profitable and sustainable growth strategy, Vision 2025. It confirms that with we are well on track to achieving our Vision 2025 strategic goal of becoming a mega global carrier with US$10 billion in revenue by 2025."

Ethiopian Airlines adds seventh Boeing 787 Dreamliner to the fleet.

Delivery of three more B787s in 2014.

Ethiopian Airlines took delivery of its seventh Boeing 787 Dreamliner on May 20th,  named Walia Ibex. Ethiopian was the first in the world (outside Japan) to receive the Dreamliner in August 2012 and is looking forward to taking delivery of a further three in 2014.

The Boeing 787 Dreamliner is the most technologically advanced commercial aircraft in the world, providing customers with the best possible on-board comfort with greatly reduced noise, higher ceilings, the largest windows in the sky, higher humidity, unique lighting, larger overhead storage and an overall enhanced travel experience.

Tewolde Gebremariam said: "As Africa's flagship carrier, Ethiopian has always been and remains an aviation technology leader in the continent by availing the most advanced aircraft to its esteemed customers. We currently have the youngest fleet in Africa with an average age of seven years. In line with Vision 2025, we will continue to expand and modernize our fleet in order to continue to provide maximum comfort to our customers."

Ethiopian's Boeing 787s can be enjoyed on routes to Europe, including London Heathrow, where frequencies expand from six weekly to daily from July 6th.  The aircraft also serves destinations in Africa, Brazil, the U.S., Canada and China.

Ethiopian Airlines is a global Pan-African carrier currently serving 82 international destinations across five continents with over 200 daily departures and operating 66 modern aircraft such as the Boeing 777s and Boeing 787s.

About Ethiopian Airlines:

Established in 1945, Ethiopian is the fastest growing airline in Africa, offering daily services aboard its ultra-modern fleet to 48 African destinations and very short connections through its Addis Ababa hub. Connections on the African continent include popular holiday destinations such as Zanzibar, Mombasa, or Kilimanjaro and schedules to growing business centres such as Lagos and Johannesburg.

www.ethiopianairlines.com