7th October 2019 3:28:47 PM
1 min readEthiopia Airlines has revealed that it has generated 114.6 billion birr (about US$4.2 billion dollars) in revenue during the fiscal year ending July 7, 2019.
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The largest aviation group in Africa generated the revenue from transporting passengers and goods as well as providing other services such as training and catering.
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The Ethiopian Public Enterprises Assets and Administration Agency, which evaluated the performance of the Group, copied to the Ghana News Agency, said of the total revenue the company generated, US$3.9 billion dollars was collected in hard currency from international customers.
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The report said the state-owned company had made a total profit of 8.9 billion birr (US$326 million dollars) before tax.
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It said during the current Ethiopian fiscal year 2012, which started July 8, 2019, Ethiopian Airlines Group had planned to collect total revenue of 155 billion birr (US$5.7 billion dollars) at the prevailing exchange rate.
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The Aviation Group aims to report a gross profit of 19 billion birr (696 million dollars) at the prevailing exchange rate at the end of the year July 7, 2020, the report said.
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It is recalled that the Government of Ethiopia has announced plans to partially privatize Ethiopian Airlines Group, Ethio telecom, Ethiopia Shipping Lines and other big state enterprises including railways and electric services.
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Source: www.ghananewsagency.org
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