Ethiopian Airlines Flies Past Nine Billion Dollars as Routes Shut Around It

The Ethiopian Airlines Group (EAG) closed the last fiscal year with revenue of 9.1 billion dollars, 20pc above the previous year and the highest the carrier has posted.

Its executive management presented the results today, July 29, 2026, at the Skylight Hotel, on Africa Avenue (Bole Road) without disclosing a profit figure.

"The profit isn't going to be less than last year," said Mesfin Tassew, the Group's CEO.

The Group is expanding into a market that has been closing around it, through shut airspace, suspended routes and a global queue for large aircraft.

Passenger traffic increased by 10pc to 20.7 million, revealing a base of about 18.8 million a year earlier. Cargo volumes climbed by 16pc to 897,000tn, from about 773,000tn, exceeding the annual target by two percent.

The gains were booked against a difficult final quarter. Conflict in the Middle East pushed expenses up by 25pc, while airspace closures forced the carrier to suspend flights to 10 cities. Global shortages of large aircraft constrained operations through the year. Travel advisories tied to health concerns in East Africa and Congo trimmed expected demand on those routes.

The Group's response was to buy and lease through the constraint.

Nine aircraft joined the fleet during the year through a mix of purchases and leases. A further eight specialised aircraft were acquired for pilot training, reinforcing the carrier's training arm at a time when fleet growth across the continent is outpacing the supply of qualified crew.

The international network reached 150 destinations after the launch of four routes, to Porto in Portugal, Hanoi in Vietnam, Abu Dhabi in the United Arab Emirates and Al Qassim in Saudi Arabia. Domestic destinations increased by three to 25 with services to Negele Borana and Debre Markos. The Airlines disclosed that work is underway to finalise flights to Mizan Aman and Gore Mettu.

Infrastructure absorbed the larger share of attention. Groundwork on the mega-airport project in Bishoftu, Oromia Regional State, designed to handle 60 million passengers in its first phase, has been launched. The Group has selected four major contractors to begin above-ground construction. The Bishoftu site has secured a promise of 8.5 billion dollars.

Closer to the capital, the domestic terminal at Bole International Airport was renovated, premium lounges opened and a new information technology data centre deployed. New terminals were inaugurated in Kombolcha and Bahir Dar, with work continuing in Arba Minch, Nekemte, Shire, Jima and Wolaita Sodo.

Beyond flight operations, EAG's aerospace manufacturing unit generated six million dollars producing components for global aircraft manufacturers, a figure equal to less than a tenth of one percent of Group revenue but a rare entry point into a supply chain few African carriers have joined.

Cost-saving measures delivered close to 37 billion Br, which the CEO credited with holding its financial position stable against rising operating expenses.

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