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Ethiopian Airlines orders 59 more aircraft, posts $2.71bn unaudited revenue

Leading African airline, the Ethiopian Airlines, Africa’s biggest carrier, has unveiled its medium term growth plan with projected annual revenue of $25 billion by 2025. Its 2016/2017 unaudited revenue stands at $2.71 billon.

Unveiling the expansion plan to journalists at the airline’s headquarters in Addis Ababa, Ethiopia, earlier in the week, the Manager ET-Holidays, Mrs. Seble Wongel Azene, said the expansion plan would see the airline acquire additional 59 aircraft between now and 2025 to add to its current 92 aircraft. That will take ETs fleet to 151 if it does not sell off some of its aircraft.

The airline also targets over 120 destinations by 2025 and hopes to fly over 22 million passengers annually. ET currently does 8.8 million passengers annually from 100 international and 19 local destinations, according to statistics from the airline.

The airline, with 12,000 staff, is 100 per cent owned by the Ethiopian government. It currently operates 1681 weekly flights and 240 daily flights across its route network.

Mrs. Azene noted that Ethiopian Airlines also operates the largest air cargo business with 338,646 tonnes of cargo in 2016/2017.