Ethiopian Airlines recorded an 18 percent growth in profits after flying more passengers in the year through June.
A surge in passenger numbers by 14% helped the airline overcome rising fuel costs and a slowdown in the global economy.
Planes were three-quarters full on average enabling the carrier to fly 12.1 million passengers during the period.
The year was challenging following the March aircraft crash en-route Nairobi that killed all 157 passengers on board.
Ethiopian Airlines CEO said that the ongoing US-China trade war threatens the business, as the two are the airline’s top markets. He added that it has led to a drop in cargo although an insignificant reduction in passenger numbers
The Airline, which is also Africa’s most profitable, expects to add 25 more planes this year bringing its fleet to 144 planes. Moreover, the new aircraft will help Ethiopian Airlines add 11 routes expanding the airline’s destinations to 123 by the New Year.
The airline is planning a new 15-year expansion strategy after achieving the so-called Vision 2025 seven years ahead of time. Part of the plans includes the construction of a new airport in Ethiopia this year that will take four to six years and a hotel with a 1000 bed capacity.
In addition, it has bagged joint ventures in Malawi, Chad, Zambia, and a subsidiary in Mozambique. The airline has talks to venture into Ghana and Nigeria.
Related: Ethiopian Airlines to Build Airport City at the Outskirts of Addis Ababa
