Ethiopian Airlines Reports 20% Jump In Revenue To $9.1B

Ethiopian Airlines Group has reported annual revenue of $9.1 billion for fiscal 2025/26, a record for the company, and marking a 20% increase over the previous year despite geopolitical challenges that drove up operating costs.

Speaking at a press briefing in Addis Ababa on July 29, group CEO Mesfin Tasew said the revenue growth came despite the impact of Middle East crises on fuel prices, flight operations and passenger demand. Expenses rose 25% over the same period. Passenger numbers grew 10% to 20.7 million, while cargo volumes rose 16% year over year to 897,000 metric tons. Tasew did not disclose profit figures.

The airline expanded its international network with four new routes, including services to Portugal, Vietnam and Abu Dhabi, alongside additional domestic destinations, and added eight aircraft to its fleet.

The results underpin Ethiopian’s Vision 2035 strategy, which targets $25 billion in revenue and 67 million annual passengers.

In a bid to cope with the fast growth of the airline, Addis Ababa Bole International Airport has undertaken a series of expansion projects, surging its annual passenger handling capacity to 25 million. However, Bole will not be sufficient to accommodate the airline’s ambitious growth plan, hence Bishoftu International Airport, Ethiopia’s new “mega hub.” The airport’s initial phase, capable of handling 60 million annual passengers, is scheduled for completion by 2030. The new airport will have four runways, two terminals, aprons that will accommodate 270 aircraft, a cargo terminal and an MRO center.

In May, the Negele Borena Geda Airport, in the Oromia region, was also inaugurated, marking the country’s domestic aviation expansion. This was followed by Gore Metu and Debre Markos airports, which have commenced passenger services.

On fleet plans, Tasew said at last week’s Farnborough Airshow that Ethiopian expects to finalize a deal within weeks for 16 freighter aircraft, choosing between the Boeing 777-8F and Airbus A350F, with eight firm orders and four options envisaged.

Tasew also said Ethiopian’s regional aircraft evaluation, covering a planned 25-aircraft order, will conclude within one to two months. The Airbus A220, Boeing 737 MAX and Embraer E2 remain in contention.