Ethiopian Airline targets $1b profit, 140 plane by 2025
Founded in 1945, the airline which has 76 aircraft in its fleet is working to own about 140 aircraft within the next 10years.
Its General Manager (Nigeria) Solomon Begashaw who stated this in Abuja said the airline’s plan is to cover 120 international destinations by 2025 adding that Ethiopian Airline is currently flying 91 international, 52 African and 20 domestic destinations.
According to him, part of the company’s 2025 vision is to attract $10 billion revenue against the current $2.4 billion currently and to be a $1 billion profit making oranisation.
His words: ” We have ordered for 44 state-of-the-art aircraft. Our airline is the fastest growing African airline with five fold (500%) growth in an industry which lost billions of Dollars
Bengashaw noted that Ethiopian Airline has the oldest and largest African Aviation Academy with 1,300 trainees intake capacity currently targeting 4,000 trainees by 2025.
He attributed the success recorded by the airline to uniquely successful corporate governance (fully government owned but operated as private business with clear separation of ownership and management, well trained, qualified, dedicated and committed employees, self sufficient in aviation services, training and skills, prudent cost management, visionary, committed and highly experienced leadership team.
He observed that the airline would uphold operational excellence while its vision is to be four stars airline with five stars service delivery, expand its infrastructure by building new cargo terminal with capacity of 1.2 million tons capacity per annum, add two maintenance hangers business units.