Ethiopian Airlines Records $5b Revenues


Ethiopian Airlines Records $5b Revenues

The Ethiopian Airlines Group reports that it generated five billion dollars in revenue in the financial year ended two months ago. It is eight percent higher than what the Group's executives had forecasted. It was an eventful year for the national carrier. The Group's long-serving chief executive officer (CEO) Tewolde Gebremariam departed due to "health concerns" in March 2022 after nearly a decade managing one of the largest airlines on the continent. Mesfin Tassew, who has served the airline for nearly four decades, including as chief operating officer since 2010, replaced Tewolde. The Group also made significant changes to its board of directors. Girma Wake has been appointed chairperson, while new members include Teklewold Atnafu, Temesgen Tiruneh, Yilma Merdasa (Lt. Gen.), and Tadesse Tilahun. The Group remains the most valuable state-owned enterprise in operation. It is among over two dozen public enterprises to come under the umbrella of the Ethiopian Investment Holdings (EIH) a few months ago.


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