Ethiopian Airlines has bounced back after the pandemic slump. National Airlines of Ethiopia has recorded a US $ 5 billion annual revenue in the 2021/22 Ethiopian fiscal year significantly higher than the target. With the revival of the passenger traffic, it is hoped that the upward trend will continue.
The airline was hit hard by the Pandemic when it had to suspend 91 of 110 passenger flights and suffer an income loss of half a billion US dollars. Its smart business strategy of focusing on cargo and charter operations instead of passenger services softened the blow and helped the company to survive the pandemic without a government bailout and without laying off any of its 13,000 regular employees. About 38 passenger planes were converted to freighters to provide cargo services to shore up revenue during the pandemic. The airline currently operates 138 planes. The airline is getting 13 new aircraft including 10 B777 max and 2 Airbus A350 to add to its fleet during the current fiscal year.
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