Ethiopian Airlines Profits Soar as Fleet Expansion and Global Network Drive Growth

Ethiopian Airlines has reported another strong financial year, highlighting its dominance in African aviation, as the carrier benefits from an expansive route network, fleet modernisation and in-house maintenance capabilities.

The state-owned airline said revenue rose for the 2024/25 fiscal year, driven by a double-digit increase in passenger numbers and stable performance in its cargo segment.

The carrier continues to post annual profits, setting it apart from many African peers that have struggled to recover from the COVID-19 pandemic.

Ethiopian Airlines has steadily grown its global footprint to over 150 destinations, supported by a fleet of more than 150 aircraft, including modern widebodies such as the Boeing 787 Dreamliner and Airbus A350.

It has recently expanded its order book, including a deal for additional Boeing 787s, 737 MAX jets, and eight of the yet-to-be-delivered Boeing 777X aircraft, reinforcing its long-term growth strategy under its Vision 2035 plan.

The airline’s in-house Maintenance, Repair and Overhaul (MRO) facility has also contributed to its bottom line, offering full-scale engine overhauls, heavy checks, and aircraft conversions.

The MRO has positioned Ethiopian as a regional hub for aviation servicing, generating third-party business and reducing reliance on foreign contractors.

In addition to boosting its fleet and infrastructure, Ethiopian has capitalised on its central geographic location, enabling efficient connections between Africa, Asia, Europe and the Americas.

Its Addis Ababa hub has emerged as a key transit point for international passengers.

By contrast, Kenya Airways has only recently returned to profitability after years of losses. Although it posted a pretax profit in 2024, the scale remains limited compared to Ethiopian’s consistent performance and wider network.

Ethiopian Airlines’ ability to remain profitable, expand its fleet, and strengthen its MRO capacity has cemented its role as Africa’s leading airline, even as global economic and geopolitical pressures weigh on the industry.

gandae@businessdayafrica.org