Ethiopia Airlines generates 114.6 billion birr (about 4.2 billion dollars) in revenue during the fiscal year ending July 7, 2019.
Ethiopian Airlines, the largest aviation group in Africa generated the revenue from transporting passengers and goods as well as providing other services such as training and catering.
The Ethiopian Public Enterprises Assets and Administration Agency, which evaluated the performance of the Group, in statement, said of the total revenue the company generated, 3.9 billion dollars was collected in hard currency from international business.
The report said the state-owned company had made a total profit of 8.9 billion birr (326 million dollars) before tax.
The statement added that during the current Ethiopian fiscal year 2012, which started July 8, 2019, Ethiopian Airlines Group had planned to collect total revenue of 155 billion birr (5.7 billion dollars) at the prevailing exchange rate.
The Aviation Group aims to report a gross profit of 19 billion birr (696 million dollars) at the prevailing exchange rate at the end of the year – July 7, 2020, the report said.
However, in Ghana, plans are underway to procure a national carrier to help boost air travel in the country and beyond.
As earlier reported by Ghanatalksbusiness, The government of Ghana will own 10 per cent of the national carrier due to begin operations soon.
Whereas, Ethiopian Airlines (ET), which is partnering Ghana to revive the country’s dream will also hold 49 per cent and the remaining 41 per cent stake made available to other Ghanaian investors.
This is why Ghana needs a national airline
In Africa, air transport supports 6.8 million jobs and $72.5 billion dollars of the continents GDP annually. Statistics have shown that Airline Business in Africa is booming as more countries are striving to manage their own national air carriers.
In 2014 Zambia made over 14 million dollars from route exportation, Ethiopia, exported over 154 million dollars in 2014 while Kenya’s went up to the tune 326 million dollars the same year.
These three countries provided more jobs in the Aviation sector than the mining industry translating into $225m in 2016 $820m in 2017.
Airline Business in Africa in 2017 recorded a total international passengers of 1.8 million both through arrival and departure with passengers from Europe, North America and Asia.