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Ethiopian Airlines ends 2020 fiscal year with profit due to its ‘agility’

By Loza Seleshie
Posted on Wednesday, 9 June 2021 18:00

An Ethiopian Airlines Cargo plane carrying the AstraZeneca/Oxford vaccines under the COVAX scheme at the Bole International Airport in Addis Ababa, Ethiopia, March 7, 2021. REUTERS/Tiksa Negeri

Ethiopian Airlines, which celebrates its 75th anniversary this year, is one of only three airlines in the world to have made a profit in 2020 (fiscal year ending in June).

The Covid-19 pandemic hit the aviation sector hard with global cumulative losses reaching €103bn ($125.9bn), out of which €1.6bn was incurred by African airlines.

Ethiopian Airlines CEO, Tewolde GebreMariam, says the company “demonstrated agility, quick decision-making and resilience that have helped” in the face of falling passenger traffic, which, in Africa, registered a 69% drop in 2020 compared to figures from the previous year.

The airline is now the first on the continent to test the International Air Transport Association (IATA) health passport.