Ethiopian Airlines revises 15-year strategic plan
The flag carrier of Ethiopia, Ethiopian Airlines, has announced plans to revise its 15-year strategic plan following recent growth.
The plan was originally introduced in 2010 and outlined a scheme that would see the Airline become the biggest on the continent by 2025.
The strategy would see Ethiopian Airlines more than double its fleet to 120 aircrafts in the review period.
However, the carrier currently has a fleet of 100 planes travelling to different continents, including North and South America, and Asia.
A new target has been set for the plan which will see the airline with 150 aircrafts by 2025.
“We have expanded more than we planned,” commented Tewolde Gebremariam, CEO of Ethiopian Airlines.
“We had to revise the objective to make it 150 airplanes or more by 2025,” he added.
The state-owned airline has announced plans to order 13 Boeing 787 jets ad six Airbus A350 planes within the year, Reuters reported.
According to the International Air Transport Association, Ethiopian Airlines is the largest carrier on Africa in regards to profit and revenue.
The company noted US$2.7bn in revenue in its 2016/17 financial year, an 11% rise from the previous year, whilst its net profit rose to $223mn from $220mn.
The carrier also saw a rise in passengers in the review period, increasing by 18% to 9mn.
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