National Carrier Transports 12.5m Passengers

Oct 5 , 2019


Ethiopian Airlines has carried more than 12.5 million passengers in the just-ended fiscal year. The company, which had a hard year after the crash of its Boeing 737 Max-8 aircraft last March, earned an operating profit of 260 million dollars. The significant rise in jet fuel prices in the global market slightly influenced the profitability of the airline, according to Tewolde Gebremariam, CEO of Ethiopian. For the current fiscal year, Ethiopian Airlinea plans to expand its global comparativeness, according to the CEO. It also plans to build five airports in Debre Markos, Metu, Borena, Yabello and Mizan Aman. For the expansion projects, Ethiopian intends to invest over five billion Br during this fiscal year. Additionally, it plans to buy 20 planes.


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Ministry Secures $86m Grants

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Authority Reports Fuel Import Stats

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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


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