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Friday, 2 August, 2002, 11:44 GMT 12:44 UK
Ethiopian Airlines profits rise
Ethiopia Airlines website
Ethiopia Airlines plans to buy six new Boeing planes
Ethiopia's state-owned airline has seen profits rise this year from the $3.86m figure it posted last year, its chief executive has said.

Ethiopian Airlines, one of the three biggest sub-Saharan African airlines, reacted to the financial effect of the 11 September terrorist attacks in America by strengthening services in regions unaffected by the attacks.

It has yet to release exact figures as its books are still being audited but it said profits have increased and passenger volume has risen 12%.

The airline has seen revenue rise 5% while operating costs have risen 3%, chief executive Bisrat Negatu said.

Rivals, Kenya Airways and South African Airways, have also posted profits for 2001/02.

New routes

Last year Ethiopian Airlines launched new routes to Amsterdam, Hong Kong, Brazzaville in the Republic of Congo, and Kano in Nigeria.

It also increased the frequency of its flights to destinations in Europe, West Africa, India, Thailand and China.

The airline said it expected increased revenue next year when a new terminal and improved visa service for short-term visitors would increase passenger traffic at Bole International Airport.

Night flights to improve connectivity for passengers will also be introduced.

Ethiopian Airlines has recently signed a $480m deal with Boeing to buy six planes and lease a further six.

See also:

25 Jul 02 | Country profiles
29 Apr 02 | Business
05 Mar 02 | Business
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