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Ethiopian Airlines adopts new strategies to overcome impact of COVID-19

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Ethiopian Airlines said it has earned 3.9 billion dollars in revenue in the concluded Ethiopian fiscal year, which ended on 7 July  2020, amid the COVID-19 pandemic.

During an annual performance review of the company, conducted on Sunday, 27 September 2020, it was noted that the airline achieved 82 percent of its annual revenue target, which was 4.28 billion dollars.

According to the Public Enterprises Holding and Administration Agency (PEHAA), different strategies put in place by the airline helped it overcome the impact of the pandemic on its income. The strategies included shifting from passenger to cargo, diversifying income-generating schemes, such as maintenance and hotels, and applying cost-reduction methods, which helped it to save over 5 billion birr.

The airline turned to cargo flights and maintenance after the passenger transport business came to a stop during the COVID-19 pandemic.

Ethiopian Airlines doubled its cargo capacity by shifting 20 passenger aircraft into cargo planes, in addition to the existing 10 Boeing cargo aircraft. Since COVID-19 forced the closure of borders and restricted travel, the tourism industry took a tumble, with airlines being some of the biggest losers. However, there are some carriers who have managed to make money, or at least cover costs, in 2020.

Meanwhile, the airline, on Monday, 28 September 2020, announced plans to start cargo service to Mauritius as of 2 October 2020.

Ethiopian Airlines claimed it has developed a pan-African passenger and cargo network, and serves 127 other international destinations across five continents with a fleet which includes modern and environmentally-friendly aircraft.

-APA

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