@MesfinTasew – Ethiopian Business Review

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Ethiopian Airlines has reported a remarkable USD 5.6 billion in revenue during the first nine months of the current Ethiopian fiscal year, marking an 8% year-on-year growth. The milestone underscores the national carrier’s resilience and strategic momentum as it powers forward with its long-term Vision 2035 plan.

In an interview with the Ethiopian Broadcasting Corporation (EBC), CEO Mesfin Tasew attributed the success to expanded routes, fleet growth, and increased passenger volume. Over the period, the airline launched four new international destinations, took delivery of 10 additional aircraft, and transported 14.5 million passengers—a 13% increase compared to the same period last year.

Among the new aircraft is Africa’s largest Airbus A350-1000, positioning Ethiopian Airlines at the forefront of aviation modernization on the continent.

Looking ahead, the airline plans to deepen its global footprint, with new routes planned to India and the United Arab Emirates (UAE). CEO Mesfin also revealed that two more aircraft will be delivered in June alone, signaling continued investment in capacity and service delivery.

In infrastructure, Ethiopian Airlines is progressing toward its long-term goal of establishing a world-class aviation hub. Construction of a new mega-airport in Bishoftu is set to begin in November next year, with preparatory efforts underway to relocate farmers affected by the development.

Ethiopian Airlines anticipates achieving one trillion ETB ($8 billion) in annual revenue by June 2025, marking a significant milestone in its growth. Group CEO Mesfin Tasew shared this ambitious projection during an interview with BBC News. The airline planned a revenue of $10 billion in 2025, when it crafted its strategic 15-year plan. However, the outbreak of COVID affected the airlines’ revenue as global restrictions on travel affected airlines tremendously.

As part of its expansion, Ethiopian Airlines is making significant strides in the global aviation industry with its plans for a new mega airport in Bishouftu, 43km southeast of Addis Ababa. This airport, to be developed in two phases, will have a transformative impact. Phase One, with a capacity to handle 60 million passengers per year, is set to commence in November this year and be completed by 2029. The second phase, adding another 50 million passenger capacity, will follow shortly thereafter. The new airport, built on 3,500 hectares of land, will make the biggest airport in Afric, symbolising Ethiopia’s leading position in aviation. To ensure the well-being of those affected by the relocation, the airline is constructing residential homes, agro-processing hubs, and trade facilities, ready for the families by November 2025. This new facility will address the growing demand, as Addis Ababa Bole International Airport, despite continuous expansions, has reached its limit of 25 million passengers per year.

This massive infrastructure project directly responds to the increasing number of passengers Ethiopian Airlines serves, both within Africa and globally. In 2024, a report by the African Airlines Association ranked Addis Ababa Bole Airport as the third-busiest airport in Africa, trailing only Cairo and Johannesburg.

Ethiopian Airlines, the Ministry of Tourism, and the Immigration and Citizenship Service have signed a landmark agreement aimed at revitalizing Ethiopia’s tourism sector by capitalizing on the country’s strategic position as a global transit hub.

The agreement, signed by Minister of Tourism Selamawit Kassa, Immigration and Citizenship Service Director General Selamawit Dawit, and Ethiopian Airlines Group CEO Mesfin Tassew, sets the stage for a coordinated effort to expand and develop the economic potential of Ethiopian tourism.

A key focus of the partnership is stopover tourism, leveraging Addis Ababa’s status as a major connecting hub to encourage international travelers to explore Ethiopia’s rich cultural and historical attractions during layovers. Ethiopian Airlines CEO Mesfin Tassew emphasized that the initiative will be instrumental in attracting more visitors to the country, reinforcing its reputation as a premier African destination.

Minister of Tourism Selamawit Kassa echoed this sentiment, stressing the economic importance of unlocking Addis Ababa’s tourism potential. “Addis Ababa is not just a transit point, but also a destination. If we can attract even a fraction of the travelers passing through Bole International Airport, we can generate significant foreign exchange earnings and create additional job opportunities,” she stated in a social media post.

The initiative will also introduce a specially designed stopover package, making it easier for transit passengers to experience Addis Ababa’s vibrant culture, heritage, and hospitality. “It is important to establish a coherent framework between key institutions so that our country can benefit from the potential of stopover tourism to the desired extent,” Minister Selamawit added.

The collaboration marks a strategic move to transform Ethiopia’s tourism industry into a key driver of economic growth, aligning with broader national efforts to position the country as a global tourism powerhouse.

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