Ethiopian Airlines is Africa's Most Profitable Airline – Report

Ethiopian Airlines is once again Africa’s most profitable airline, according to 2011 World Airline Report by Air Transport World (ATW). For Fiscal Year 2010 which ended in June, Ethiopian Airlines made a net profit of 121.4 million dollars, ranking it as the most profitable airline in Africa by far. Second place South African Airways made a net profit of 78.9 million.

Ethiopian’s revenue for FY 2010 was $1.3 Billion. But the airline did not make the list of the top 25 most profitable airlines in 2011 as several airlines who were in the red last year made a whopping profit in FY 2010. In 2010, many airlines bounced back after loosing billions in 2008 and 2009. In 2010 World Airline Report, Ethiopian Airlines was ranked the 16th most profitable airline in the world. In 2009, Ethiopian was ranked 25th in the World’s Top 25 Airlines, appearing for the first time.

In the latest report, Air China is the world’s most profitable airline with a net profit of $1.9 Billion followed by Cathay Pacific, Lufthansa, Emirates and China Southern. The largest carrier by operating revenue is Lufthansa followed by United Continental and Air France KLM.

By revenue, Ethiopia Airlines is ranked third after South African Airways and Egypt Air. By number of passengers carried Ethiopian is third after Egypt Air and South African Airways. Ethiopian carried 3,344,000 passengers in 2010, an increase of 14.8% from previous year.

Ethiopian Airlines will officially join Star Alliance later this year becoming the third carrier from Africa in the alliance. ATW also reports that Ethiopian will launch its second North American destination when it starts Addis Ababa-Toronto Pearson flights in December. Currently it serves Washington Dulles daily from Addis Ababa using a 777-200LR. It is also expecting the delivery of two new 777 freighters on lease by the end of 2012.

Top 5 by Net Profit

1.Air China
2.Cathay Pacific
3.Lufthansa Group
4.Emirates Airline
5.China Southern

Top 5 by Operating revenue

1.Lufthansa Group
2.United Continental Holdings
3.Air France KLM
4.Delta Air Lines
5.AMR Corp (American Airlines)