Ethiopian airlines net profit 2023. 02 billion , while passenger numbers reached 17.
Ethiopian airlines net profit 2023 A few years ago, Ethiopian Airlines cancelled a contract with BGI’s Castel wine for its inboard flights for cheaper wine brands exported from South Africa. Ethiopian Airlines toasts 20% increase in earnings Ethiopian Airlines continues on its path toward success. The carrier's passenger services contributed significantly, generating USD 5 billion, while cargo operations brought in USD 1. 25 per departing passenger). [270] On 5 March 2024, Ethiopian Airlines and Boeing announced an agreement for the purchase of eight 777-9 passenger aircraft, with the option for an additional 12. 67bn in 2023, and revenue rose from €30. 4 million for its half-year ending June 2022. 7 billion-a 0. 1 billion a year earlier, helped by higher passenger numbers, state-owned Ethiopian Broadcasting Jul 30, 2024 · Mesfin Tasew, chief executive officer (CEO) of Ethiopian Airlines Group, said Monday that the revenue saw a 14 percent increase compared to the fiscal year 2022/2023. 6: Net profit post-tax per region – Scheduled services 2022 8 Figure 2. 4 billion compares to QAR 5. Its net profit increased from $3. Ethiopian Cargo has transported more than 750,000 tons of cargo which is a record high in a fiscal Dec 6, 2023 · Airline industry net profits are expected to reach $25. Kassie Yimam joined Ethiopian Airlines on January 26, 1995 as Junior Aircraft CorporateWebsite Dec 13, 2023 · Top Banks in Ethiopia Ranking for 2023/2022 G. Mesfin said the Ethiopian Airlines (Ethiopian) is the leading and most profitable airline in Africa. dollars in revenue during the last Ethiopian 2021/2022 fiscal year, up 79 percent from the previous fiscal year. Jan 25, 2024 · American Airlines reported record-high revenues of $53 billion and a $822 million net profit for 2023. Read more Dec 2, 2024 · While most African airlines are experiencing a slowdown, Ethiopian Airlines earned 937 million dollars profit last year. 1 million birr. 7: Evolution of Jet fuel price vs. ADDIS ABABA, Sep. Dec 6, 2022 · The International Air Transport Association (IATA) expects a return to profitability for the global airline industry in 2023 as airlines continue to cut losses stemming from the effects of the COVID-19 pandemic to their business in 2022. 9 billion. It is the first profit since 2019 when industry net profits were USD 26. 4 billion Birr in profit. The airline also foresees a gross profit of $696 million at Aug 14, 2018 · Recent Posts. EAA Awarded at the 6th Global Aviation Training & TRAINAIR PLUS Symposium. The airline has added eight new destinations to its network […] Currently, he is serving as Chief Financial Officer as of November 2023. Over the past seven decades, Ethiopian has been a pioneer of African aviation as an aircraft technology leader. Sep 1, 2022 · Ethiopia's national flag air carrier Ethiopian Airlines earned 5 billion U. Sep 1, 2022 · The airline reported a 79% revenue growth for its fiscal year ended July 30, even as profit grew by 90%. In 2023, airlines globally are expected to post a $9. Singapore Airlines is no exception. Dec 31, 2023 · For the 49 years of presence in Rwanda (well that's not linked), Ethiopian Airlines will add a 3rd daily frequency to Kigali, from the start of the summer 2024 program. Nov 21, 2023 · The company, fully owned by all banks in the country, said its pre-tax profit in the 2022/23 financial year jumped by 172% to more than 534. 8. This represents a 14% surge compared to the previous year. 5 million in 2015 to $8. 79bn in 2023 and revenue of $19. It is a year of excellence and achievement across the businesses of the Ethiopian Airlines Group. pdf), Text File (. Dec 6, 2023 · That will be a slight improvement over 2023 which is expected to show a $23. 1b in the 2022/2023 fiscal year, despite the impact of Russian-Ukraine war and the increase in fuel prices, the country’s state news agency reported on Thursday. 6 billion revenue loss in 2021. The airline reported a 20% revenue increase in the latest financial year. 65 billion. 5 billion this year with 3. Read More Jul 27, 2023 · UPDATE July 27 - Qatar Airways reported a lower net profit for the financial year 2022/2023 compared to the previous year. 38 billion and a net profit of ETB 1. 8: Passengers carried by African airlines scheduled operations 10 Figure 2. The ICAO Assembly also Jul 6, 2023 · International demand reached 90. txt) or read online for free. The earnings of the Airlines reached USD 6. 6 million compared to the same period last year. 7: Evolution of Jet fuel price vs Net profitability 9 Figure 2. 02 billion , while passenger numbers reached 17. The airline transported 13. 8: Passengers carried by African airlines scheduled operations 10 Jun 15, 2023 · Ethiopian Airlines earnings jumped 20% to $6. The airline’s passenger services were a major contributor, generating USD 5 billion, while its cargo operations brought in USD 1. Over the decades the airline has established itself as the leader in all facets of the aviation business: technology leadership Jun 20, 2023 · Addis Ababa, June 20, 2023. 50. Book your next adventure today. “Considering the major losses of recent years, the $25. Lufthansa Group doubled its net profit from €791m to €1. Jun 15, 2023 · Ethiopian Airlines earnings jumped 20% to $6. 5 million birr for the 2020/2019 budget year, making it’s net profit 553. Headquartered at Istanbul Atatürk Airport, the airline employs 40,264 staff and has been a member of the Star Alliance since 2008. beyond. The 2009 Great Ethiopian Airlines Run, the 9th edition of the race, took place in Addis Ababa on 22 November 2009. 1 bln in the 2022/2023 fiscal year, despite the impact of Russian-Ukraine war and the increase in fuel prices, the country's state news agency reported Jul 29, 2024 · Ethiopian Airlines posted revenue of $7 billion for its 2023/24 financial year, up from $6. 6: Net profit per Passenger per region – Scheduled services 2021 8 Figure 2. 9 billion without special items and corresponds with a 5. On 15 November 2023 at the Dubai Airshow, Ethiopian Airlines ordered 11 more Airbus A350s to its fleet, expanding its current order for this type to 33 aircraft. Discover Ethiopian Airlines' extensive flight network with destinations across Africa, Europe, Asia, and the Americas. 21 billion revenue loss in 2020 and a $8. It registered a 79% growth when compared to the 2020/2021 fiscal year. Aug 15, 2018 · Ethiopian Airlines has released its results for the period ended on June 30, which shows an 18 percent increase in cargo volume to 400,339 tonnes and a 26 percent increase in net profit to about US$ 245. Currently, he is serving as Chief Financial Officer as of November 2023. The airline’s 2021/22 fiscal year performance was a subject of Ethiopian Investment Holdings or EIH’s annual evaluation of portfolio companies. Jul 9, 2024 · According to the source, commercial airlines were expected to register a net profit of 27. 9: African airlines ASK and RPK growth 10 Figure 2. Figure 2. 8 billion were up from ethiopian factsheet ethiopian a star alliance member ethiopian in figures, 2010-2023 2020/21 5,779,033 757,002 3,513567 493500mo 14,736 2021/22 Nov 18, 2017 · Bunna International Bank has reported that it has earned a profit before tax amounting 582 million birr, making the net profit 440. The airline carried 17. According to data released by the airline on July 29, 2024, its operating revenue reached USD 7. This information is according to a tweet by Mamo Mihretu, the CEO of Ethiopian Investment Holdings. Ethiopian Airlines Group Chief Executive Officer, Mesfin Tasew said that the income of the group has shown 20 percent increment to that of same period last year. Singapore Airlines' operating profit at near-record. 7 billion net profit expected in 2024 is a tribute to aviation’s resilience,” Willie Walsh, IATA’s Director General, said. 69 to 22. Jan 2, 2025 · Based in London, Lewis has been editor of Airline Business since 2021, having joined the publication as managing editor in 2016. Of course, Ethiopian is ageing beautifully. 29 million birr. Jul 29, 2024 · ADDIS ABABA, July 29 (Reuters) – Ethiopian Airlines posted revenue of $7 billion in the 2023/24 fiscal year, from $6. Ethiopian achieved a high revenue and net profit during this financial year, with cargo accounting for almost half of the Group’s revenue. Jul 28, 2022 · Airline results continue to show sharp contrasting fortunes these months, with deep losses suddenly changing for record profits. This all happened on the Ethiopian Cargo & Logistics Services Wins ‘Best Cargo Airline – Africa’ Award 6. Aug 31, 2022 · ADDIS ABABA – Ethiopian Airlines Group’s management was hailed for their agility after the airline saw its annual profit soar to 937 million US dollars. Aug 9, 2022 · ADDIS ABABA – Ethiopia’s commercial banks have secured a total of 49. y, Grows it’s customer base by 1mln; Most Profitable, Best Banks in Ethiopia for 2024/2023 Budget Year, Capital, Assets, Loans, Income and other Financial Indicators ethiopian factsheet -2023 2017/18 108 113 10,631,866 400,339 3,34£805 ethiopian a star alliance member ethiopian in figures, 2010 2020/21 5,779,033 May 29, 2021 · Ethiopian Airlines Group’s management was hailed for their agility after the airline saw its annual profit soar to $937 million. On 14 November 2023 at the Dubai Airshow, Ethiopian Airlines ordered 31 Boeing aircraft, including 20 737 MAXs and 11 787-9s. The airline has experienced significant growth in recent years, tripling its cargo volume and increasing the number of passengers carried. In the 12 months to June 30, 2022, Ethiopian Airlines recorded a net profit of USD937 million on revenues of USD5 billion. It reported a $556 million net profit in the first quarter of the fiscal year 2022/2023, the second-highest in its long history. Annual Performance Reports. The earning per share (EPS) of the bank decrease from 28. In 2014 IATA ranked Ethiopian as the largest airline in Africa in revenue and profit. Addis Ababa June 15/2023 (ENA):-The Ethiopian Airlines Group announced today that it has earned 6. 02 billion, marking a 14% increase from the previous year. 1 bln in the 2022/2023 fiscal year, despite the impact of Russian-Ukraine war and the increase in fuel prices, the country's state news agency reported on Thursday. In […] Sep 1, 2022 · Ethiopian Airlines Group achieved a net profit of $937 million during its financial year to 30 June 2022, according to its home country's sovereign wealth fund, with cargo accounting for more than Jun 15, 2023 · Ethiopia's flag carrier, Ethiopian Airlines, reported a solid financial year for 2022/2023, with earnings up 20% compared to the previous year. It operates flights to over 100 international destinations across Africa, Europe, North America, South America, the Middle East, and Asia. This is the first time the company’s profit declined in it’s 11 years of operation. Jun 15, 2023 · ADDIS ABABA – Ethiopian Airlines group has reported $6. It was erected on 40,000 sqm with 373 rooms, 27 presidential and executive suites, four restaurants, and a conference and banquet hall that can hold 5,000 people. 1 million . Airlines projected a catastrophic $10. 8 billion net profit, with an average net profit margin of 1. 3 billion net profit this year. Jun 15, 2023 · June 15 (Reuters) - Ethiopian Airlines earnings jumped 20% to $6. [270] Aug 31, 2022 · Addis Ababa, August 31, 2022 (FBC) - Ethiopian Airlines, Africa’s leading Airlines, posted 5 billion USD in revenue this financial year, a 79% growth compared to last year. Ethiopian Airlines Group is Voted ‘Best Airline in Africa’ for 3rd Consecutive Year at Skytrax 2019 Ethiopian Airlines opened the first phase of the Ethiopian Skylight Hotel in January 2019. 6% net profit margin). ETHIOPIAN FACTSHEET 2010-2022 Ethiopian 2018/19 116 121 431859 3,908$80 ETHIOPIAN FIGURES, 2019/20 525374 2020/21 130 127 757,002 3,513,567 493þ00,ooo Ethiopian has won SKYTRAX World Airline Award for the Best Airline in Africa, Best Business class in Africa 2018’, ‘Best Economy Class in Africa 2018’ and topped among Skytrax’s World’s Top 100 Airlines 2018 list, moving up from number 48 last year to 40, as voted for by airline customers around the world. It was a year of great success, despite the global recession and increased pressure from oil price fluctuations, Ethiopian achieved a record operating profit of ETB 1. 6% net profit margin. However, it also faces some Jun 4, 2024 · Globally, IATA announced strengthened profitability projections for airlines in 2024 compared with its June and December 2023 forecasts. 9 billion Birr in net profit in the year 2022, according to the National Bank of Ethiopia (NBE). Et Annual Report 2021 22 - Free download as PDF File (. 1000 shares increase to 719. A recent forecast by the International Air Transport Association (IATA) predicts that African airlines will record net losses of around $700 million in 2022. 1m passengers in the same period, up 23%, the broadcaster quoted Ethiopian Airlines CE Mesfin Tasew as saying at a results press conference. In 2023, airlines are expected to post a small net profit of $4. Dec 6, 2023 · In the first quarter of the budget year, Ethiopian Airlines (ET), the continent’s largest airline, announced a 55% increase in profits compared with the same time the previous year. [2] The carrier started operations on 8 April 1946, [ 3 ] [ 4 ] and the first scheduled destination served was Cairo via Asmara using Douglas C-47 Skytrain equipment. 1 billion recorded in revenues made it the second most profitable state-owned corporation in Ethiopia. Jul 29, 2024 · ADDIS ABABA (Reuters) -Ethiopian Airlines posted revenue of $7 billion for its 2023/24 financial year, up from $6. 5bln birr net profit for 2024/2023 f. "With their above-average commitment, they May 29, 2021 · Ethiopian Airlines Group’s management was hailed for their agility after the airline saw its annual profit soar to $937 million. The report says net profits are expected to reach $30. 4 billion U. . Ethiopian Airlines Group, the fastest-growing airline brand globally and the continent’s leading airline brand, has been crowned with five prestigious accolades at the SKYTRAX 2023 World Airline Awards during the Paris Air Show held in France, Paris on June 20, 2023. In both 2023 and 2024 return on invested capital will lag the cost of capital by 4p. y, Grows it’s customer base by 1mln; Most Profitable, Best Banks in Ethiopia for 2024/2023 Budget Year, Capital, Assets, Loans, Income and other Financial Indicators ethiopian factsheet -2023 2017/18 108 113 10,631,866 400,339 3,34£805 ethiopian a star alliance member ethiopian in figures, 2010 2020/21 5,779,033 Mar 7, 2024 · Lufthansa Group announced its 2023 earnings with the third-best financial results in its history. 9 billion in 2019, and it was able to do so even in On 15 November 2023 at the Dubai Airshow, Ethiopian Airlines ordered 11 more Airbus A350s to its fleet, expanding its current order for this type to 33 aircraft. 1 billion a year earlier, state-owned Ethiopian Broadcasting Corporation It is with great pleasure that I submit the annual financial report of Ethiopian Airlines for the year 2009/2010. 8% of pre-pandemic levels heading into the Northern summer travel season. 2% ($2. Annual Report 2022/23 Aug 5, 2024 · Ethiopian Airlines has announced a strong financial performance for the 2023/2024 fiscal year, achieving a revenue of USD 7. 4 billion. 1 bln in the 2022/2023 fiscal year, despite the impact of Russian-Ukraine war and the increase in fuel prices, the country's state news agency Jul 31, 2024 · Ethiopian Airlines has announced a strong performance for the 2023/2024 fiscal year, raking in USD 7. 7m passengers and 723,000 tons of cargo in the fiscal year, which ends on July 7, the company’s CEO Mesfin Tasew said, according to the Ethiopian News Agency Apr 24, 2022 · Ethiopian Airlines was one of just a handful of carriers that finished the 2020 fiscal year with a profit. 1 billion, exceeding the previous fiscal year’s earnings of five billion dollars, including the 12th month’s earnings estimate. Ethiopian provided the first jet Management Board of Ethiopian Airlines 3 CEO’s Message 4 Management Team 5 News Highlights 12 Finance 24 Glossary 25 Auditors Report & Financial Statements 44 Ethiopian Airlines General Sales Agents 45 Ethiopian Airlines Offices 46 International Route Map 48 Ethiopian Airlines Domestic Offices Feb 29, 2024 · Turkish Airlines, which has a market cap of $8. Nov 24, 2023 · AllAfrica publishes around 500 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. According to the ch-aviation fleets module, the airline currently operates 126 aircraft. 1 billion a year earlier, helped by higher passenger numbers, state-owned Jun 15, 2023 · Ethiopian Airlines, the largest airline in Africa, announced a 20 percent increase in earnings during the 2022/23 fiscal year. 1% net profit margin. The airline generated 19. Oct 3, 2023 · Ethiopian Airlines has maintained a profit year after year. 1 (Xinhua) -- Ethiopia's national flag air carrier Ethiopian Airlines earned 5 billion U. 68. 4bn. Ethiopian has taken the accolades for: Jan 1, 2024 · The national carrier, Ethiopian Airlines, is the only option for local exporters, often hiking prices with little competition and insight. 7 billion—a 0. 7 percent operating margin. One of its competitors, Kenya Airways incurred 82. An aggregate return above the cost of capital, however, continues to elude the global airline industry. Dec 13, 2023 · Berhan Bank reported that it has earned a gross profit of 707. 1b a year earlier, helped by higher passenger numbers, state-owned Ethiopian Broadcasting Corporation (EBC) reported on Monday. IATA also expects in 2022, airline net losses are expected to be USD 6. Abay Bank Earns 1. The Bank’s earning per share (EPS) reached 258. 5 million Birr. dollars in 2023, the first positive earning since 2020. Ethiopian Airlines Ethiopian Skylight Hotel Holidays e-VISA ShebaMiles Ethiopian Ethiopian Fact sheet May 2023. This compares to $127 million in 2022, which is $1. Dec 11, 2022 · In 2023, airlines are expected to post a small net profit of USD 4. Sep 1, 2022 · Ethiopian Airlines announced that it amassed a revenue of USD 5 billion during the 2021/2022 fiscal year. 63 billion, which Annual Performance Reports. Over the decades the airline has established itself as the leader in all facets of the aviation business: technology leadership Sep 5, 2022 · Kenya Airways — one of Ethiopian Airlines’ competitors — posted a loss of $82. Walsh noted that this is not sustainable in the long-term. 8 birr. 3 billion net profit (2. 5 billion birr profit before tax, which is 118 percent of the target according to the Ethiopian Investment Holdings first quarter report. Ethiopian Airlines was the Title Sponsor of the 2009 Great Ethiopian Run, the biggest road race in Africa. $2. 6 billion in FY21/22, which was the highest-ever result in the history of the airline. S. 4 million dollars in the first six months of 2022. To find out more about how the company managed to perform during the difficult period, Simple Flying spoke with Ethiopian Airlines’ USA Regional Director, Samson Arega. The figure has shown a 20 percent year-on-year increase, according to the airlines. The net profit of QAR 4. Compare Ethiopian Banks Financial Performance by analyzing their annual report for key indicators such as Total Loans & Advances, Total Mar 4, 2020 · Though unaudited, Ethiopian Airlines (Ethiopian) posted strong half-year financial returns in the current fiscal year with Public Enterprises Agency, reporting a $260 million in profit for the 2019-2020 year. Ethiopian Group CEO Named ‘Airline Executive of the Year’ by CAPA 7. Annual Report 2022/23. , as interest rates around the world have risen in response to the sharp inflationary impulse. The figure has shown a 122 percent jump from 2019 during which they netted 22. The airline flew 577,746 hours during the period, showing a 19 percent increase compared to its total flight hours reported during the previous year, the CEO said in a press briefing. 1 Billion in revenues for the 2022/23 fiscal year as its flight services return to pre-pandemic level. Mr. C) Budget Year in terms of Profit, Assets, Paid-up and Total Capital, Total Income and Expense, Profit before and after tax and Earning per share (EPS) which determines Dividend or Return on Equity (ROE). In terms of flights Kigali is one of the best served destinations after Dubai, Johannesburg, Entebbe which are the only lines in full 3 times a day outside domestic. Jul 29, 2024 · Ethiopian Airlines posted revenue of $7b for its 2023/24 financial year, up from $6. McAfee CPS The airline’s 2021/22 fiscal year performance was a subject of Ethiopian Investment Holdings or EIH’s annual evaluation of portfolio companies. Despite its humble beginnings Ethiopian Airlines (Ethiopian) has had more than 75 years of successful journey which made it the leading Aviation Group in Africa. These results come as the airline faces, yet again, industrial action by ground workers and other staff. 1 billion USD in the current Ethiopian fiscal year. 10: African airlines Passenger split 2012-2020 11 Ethiopian Airlines Etihad Airways post a collective profit in 2023. 7 billion in 2024, which will be a slight improvement from a projected $23. 88bn, posted profits of $2. dollars in revenue during the last Ethiopian Jul 30, 2024 · Ethiopian Airlines Group has announced robust growth for its 2023/24 fiscal year. 93, states the report presented at the 10th Annual Shareholders Meeting held on Nov 21, 2023. Revenues of $52. Airlines’ profit grew by 90%, reaching USD 937 million despite the headwinds o Ethiopian Airlines was founded in 1945 and is currently Africa's largest airline. Out of the total revenue, the company gained a net profit of USD 937 million. The carrier also entered 2022 cash positive. C (2015 E. As part of its Vision 2035 initiative, the airline aims to further expand its network with new launches in the coming months. p. 9bn to €35. The numbers al lower than those reported by Delta and United Airlines. 02 billion in revenue. His reporting covers the global airline sector, with Europe a key Feb 27, 2020 · Assessment of Customer Service and Service Guarantee Impacts for Airlines in Malawi: The Case of Ethiopian Airlines, Kenya Airways and South African Airways, international journal of business Nov 28, 2023 · In a strategic move to reinforce its global presence, Ethiopian Airlines Group recently inaugurated its 136th destination with the addition of London/Gatwick (LGW), United Kingdom, on November 21, 2023. The record performance saw earnings per share of Br. net zero carbon emissions by 2050. Net profitability 9 Figure 2. Dec 13, 2023 · Top Banks in Ethiopia Ranking for 2023/2022 G. We publish Annual Performance Reports. The company’s total revenues last year was $5 billion. Ethiopian Airlines is the flag carrier of Ethiopia; [1] it was founded as Ethiopian Air Lines on 21 December 1945. Kassie Yimam joined Ethiopian Airlines on January 26, 1995 as Junior Aircraft CorporateWebsite Sep 12, 2022 · African airlines are expected to have net losses of over $700 million in 2022, according to a recent prediction by the International Air Transport Association (IATA). pksqkx yejyv gtdm exgnop agtnw hktu ayviehb izgzxn hnpnnf uxxo