Ethiopian Faces Suspension After Eritrea Cites Service Issues


[ssba-buttons]

Ethiopian Airlines has confirmed its flight suspension to Eritrea within the next two months. This follows a statement from the Eritrean Civil Aviation Authority issued last week, suspending Ethiopian Airlines flights. A letter circulating on social media attributes the decision to "luggage theft and damages, prolonged flight delays, and unjustified price hikes." While the Group acknowledges receiving a letter dated July 21, 2024, executives maintain that specific reasons for the suspension have not been disclosed to them. Air travel between Ethiopia and Eritrea resumed six years ago, with Ethiopian Airlines operating flights twice daily, five days a week, from Addis Ababa to Asmara. The suspension notice came amidst discussions with Eritrean authorities to increase the number of flights to 15 per week. Ethiopian Airlines disclosed on its official social media channels that they are currently seeking clarification from Eritrean authorities and are committed to resolving the issues amicably and promptly.


Radar

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...


Radar

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...


Radar

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...