Ethiopian Airlines to step up expansion with more deals and jets

May 12, 2018
               News

by Aaron Maasho

ADDIS ABABA (Reuters) - Even by its own standards, Ethiopian Airlines’ ETHA.UL recent growth has been fast — so fast that it revised the ambitious 15-year strategy set in 2010 and plans to buy more planes to step up its expansion.

Its plan had been to more than double its fleet to 120 and become Africa’s biggest airline by 2025, but it already has 100 planes flying to dozens of destinations from Asia to South America, including four U.S. cities.

The state-owned carrier has also outpaced regional competitors Kenya Airways (KQNA.NR) and South African Airways to become Africa’s largest airline by revenue and profit, according to the International Air Transport Association.

“We have expanded more than we planned,” said Chief Executive Tewolde Gebremariam. “We had to revise the objective to make it 150 airplanes or more by 2025.”

It now plans to place orders this year for 13 additional Boeing (BA.N) 787 jets and six more Airbus (AIR.PA) A350s, he told Reuters.

The airline has come a long way from when it was established in 1945 as a joint venture with now-defunct U.S. carrier Trans World Airlines (TWA).

SOURCE : REUTER

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