“Why is Ethiopian Airlines so successful?” That was a question Ethiopian Group CEO, Ato Tewolde Gebremariam, addressed when he sat with the BBC's Alastair Leithead, for the African Business Report program aired every week on BBC World. During the interview, Ato Tewolde said:
Explaining the financing model of Ethiopian, Ato Tewolde added: “In Ethiopia there is no capital market, there is no stock exchange. We cannot float shares unlike our competitors. And the Ethiopian government doesn’t put any money on the Airline at all. The Airline is managed within its own finance. One of the basic principles of our vision 2025 is fast, profitable and sustainable growth. Fast growth because of the region we are located in – between China, Africa and Middle East. This is one of the fastest growing regions. But the growth has to be profitable, because if it is not profitable, then we are not able to get loan for our fleet and other infrastructure financing. So, at any point in time, we should be credit worthy, with strong balance sheet, so that our financers can continue to lend us money and continue to have confidence on the Airline.”
Source: BBC World News
Read the full interview.
Ethiopian registered an 18% passenger increase in 2016, and despite local political turbulence and ..
Ethiopian Airlines, the largest airline in Africa, has ordered 10 additional Airbus A350-900s and set in motion a $345m airport expansion project to raise the annual passenger capacity at Addis Ababa’s Bole International Airport from 7m to 22m.
The airline adds the A350-900s to a fleet of 92 aircraft. It was the first in Africa to include A350-900s in 2016 and the first to operate Boeing 787 Dreamliners in 2012.
The Cargo section of Ethiopian Airlines Area Office in Guangzhou held Air Cargo Product Seminar on August 11, 2017 with ..
The Cargo section of Ethiopian Airlines Area Office in Guangzhou held Air Cargo Product Seminar on August 11, 2017 with the aim of introducing the freighter service LGG-CAN and the outbound service CAN-ADD and CAN-BOM-ADD to freight forwarders. The seminar was attended by Ato Yared Berta, Asia Pacific Director and Ato Mehari Assefa, Guangzhou Regional Manager as well as representatives of major freight forwarders including DHL, SCHENKER, EI, KUEHNE+NAGEL, BOLLORE, APEX, etc. Local freight forwarders were also present at the seminar.
Ethiopian Airlines Group marked commencement of a thrice weekly service to Bahrain at a reception ceremony held ..
Ethiopian Airlines Group marked commencement of a thrice weekly service to Bahrain at a reception ceremony held at Addis Ababa Bole International Airport on August 17, 2017.
Heralding the inaugural flight, Ato Tewolde GebreMariam, Group CEO Ethiopian Airlines, said:
“Bahrain is an important destination in the Middle East joining the ever emerging..”
Ethiopian registered an 18% passenger increase in 2016, and despite local political turbulence and ..
“Why is Ethiopian Airlines so successful?” That was a question Ethiopian Group CEO, Ato Tewolde Gebremariam, addressed when he sat with the BBC's Alastair Leithead, for the African Business Report program aired every week on BBC World. During the interview, Ato Tewolde said:
“The Airline is fully owned by the government of Ethiopia but fully managed by professional aviation experts, myself and my colleagues. All of us have grown in the Airline, myself started as a checking agent at the counter in Airport, 32 years in the same industry… ”
