Though unaudited, Ethiopian Airlines (Ethiopian) posted strong half-year financial returns in the current fiscal year with Public Enterprises Agency, reporting a $260 million in profit for the 2019-2020 year. $2.1 billion recorded in revenues made it the second most profitable state-owned corporation in Ethiopia. The airline also foresees a gross profit of $696 million at the close of 2019-2020 fiscal year which will be closing in July 2020. During the previous financial year, the Addis Ababa-based airline recorded $260 million…
Ethiopian Airlines CEO Tewolde Gebremariam on Wednesday said that his airline would look to begin construction on a new $5 billion airport that would enable it to grow well beyond the capacity of its current hub at Addis Ababa Bole International Airport. Reuters reported that the airport, which Gebremariam believes…
According to Singapore Changi Airport, the vibrant Asian hub has handled 5.38 million passengers in October, a 4.3 percent increase compared to last year. Airfreight also grew 2.1 percent to reach 190,000 tonnes and the aircraft movement were 3.2 percent higher than the same period last year. In October, all…
Laudamotion, the Austrian low-cost airline which took over the insolvent Niki earlier this year, has announced that it will double its fleet size from 9 to 18 Airbus A320 aircraft for summer 2019. The carrier, which focuses on the Austrian and German markets, has had a successful first summer season…
After Atlanta-based Delta Air Lines announced the resumption of its service to India, the carrier has stated that it is looking to Asia for future revenue growth. In a statement at the National Press Club luncheon, Delta CEO Ed Bastian stated that two-thirds of the carrier's revenue comes from domestic…
On October 26, American Airlines presented its third-quarter results, highlighting operating revenues up 2.7 percent year-over-year to $10.9 billion. However, due to increased costs, the net income was down more than 15 percent from the third quarter of 2016 at $624 million. Total revenue of $10.9 billion was expected by…
According to Airbus, the amount of aircraft seating between 100 passengers and 500 passengers will grow from close to 19,000 to over 40,000 by 2036. This would significantly exceed the current growth rate of 4.4% per year. However, according to the aircraft manufacturer, the quantity of new planes will not…
Europe's largest low-cost carrier Norwegian has reported sizable growth in February. This comes after they reported large growth in 2016. In a statement, the airline reported a total of 2,090,343 passengers in February alone, which has given them a passenger increase of 218,947 from the same period in February 2016.…
Manchester Airport recorded a record-breaking January 2017 to kick-start the airport's accolades for the year. Over 1.6 million passengers passed through Manchester within that single month, which contributes to the airport's 11.3% year-on-year growth. This record displaces Stockholm as Manchester enters the leader board. Because of this surge, the annual rolling…
While many have watched in recent years how the Middle Eastern carriers, including Etihad Airways, Emirates Airlines, and Qatar Airways have grown dramatically, Etihad has pursued and succeeded in a unique growth strategy of co-ventures around the world. Founded in July 2003 by the government of the United Arab Emirates,…
