Ethiopian Airlines has signed joint venture agreements and business partnerships with at least 14 countries on the continent as part of its Vision 2025 growth plan, under which the carrier hopes to become “the leading aviation group in Africa,” stated a report in The East African.
“We should see more collaborations from African airlines in order to withstand the stiff competition from the non-African carriers that are now carrying more than 75 per cent of the traffic. It is only through such collaborations that we can guarantee the existence of homegrown airlines in the next decade,” said group chief executive Tewolde GebreMariam, while announcing the airline’s results for the past financial year.
From Zambia and Malawi in the South, Chad and soon the Democratic Republic of Congo in Central Africa and Togo, with a likelihood of Nigeria and Ghana in the West, the carrier is seeking to dominate the continent’s aviation space.
The airline bought an average of one plane per month last year. It is expected that the new Bole hub will link Addis Ababa to about 70 cities on the globe, 60 of them African.
The state-owned carrier is also banking on its maintenance, repair and overhaul business to offer auxiliary maintenance services to African airlines that it has taken under its wing.
Profits hit $233 million, up from $229 million, with revenue streams growing 46 per cent to $3.2 billion, from the 10.6 million passengers that the airline ferried across the globe.