Ethiopian Airlines has announced an 8% revenue growth year-on-year in the 2024/25 fiscal year ending June 30th, with the carrier recording a revenue of $7.6 billion. This revenue growth is attributed to increased passenger clientele and expansion efforts.
Speaking on the growth, Ethiopian Airlines CEO, Mesfin Tasew, said, “The tension in the Middle East affected us most.
“The conflicts in the Democratic Republic of Congo and Sudan also disrupted our flight operations.” However, Mesfin said the industry benefited from increasing passenger demand during the year airlines transported five million passengers globally.
“Ethiopian Airlines also recorded overall strong results despite operating under challenging environments,” The CEO concluded.
Increased Passengers and Cargo
The airline recorded a 10% increase in its passenger count compared to the 23/24 fiscal year, with 19million passengers being served by the airline across its routes.
The majority of passengers Ethiopian transported (15.2 million) were international travelers, while the remaining 3.9 million were domestic ones. The Group’s freighter service also carried more than 785,720 tons of cargo to various destinations across the globe, representing a 4% growth year-on-year.
Global Expansion
Ethiopian Airlines also began serving six new cities in the year, bringing the number of destinations on its flight network to more than 150. The airline also brought 13 new aircraft of various types into operations, including four Boeing B737-800 (Max) and three Airbus A350-1000s.
Ethiopian Airlines is currently implementing a 15-year strategic plan or Vision 2035, which aims to become one of the top 20 most competitive and leading aviation groups in the world. In the 2024/2025 fiscal year, the carrier launched new flights to Warsaw, Poland; Port Sudan, Sudan; Monrovia, Liberia; Sarjiaha, UAE; Dhaka, Bangladesh; and Hyderabad, India.
Ethiopian Airlines Compared to Other African Airlines
Ethiopian Airlines’ revenue is bigger than the combined revenues of Egypt Air, Kenya Airways, South African Airways, Air Maroc, all airlines in Nigeria added together, and the next 15 largest African airlines.
Ethiopian Airlines’ fleet of 160 aircraft is 2.5X bigger than Egypt Air, 5X bigger than Kenya Airways, 4X bigger than all airlines in Nigeria combined, and 17X bigger than South African Airways. The airline generates $21 million in revenue and transports 51,000 passengers per day.
Ethiopian Airlines’ growth is proof that government-owned airlines can succeed, especially in Africa, where currently all government-owned airlines, except Ethiopian Airlines, are facing financial challenges and having issues operating.