Ethiopian profits up

ETHIOPIAN Airlines’ has reported a first-half profit increase of nine per cent to 515 million birr (US$46 million), in the six months ending 31 December 2008. Overall revenue rose 54.8 per cent on the same period a year before.

Chief executive, Girma Wake, said the carrier’s success was due to introduction of new routes, augmenting cargo revenue and streamlining of the airline’s operational and marketing sections.

“Ethiopian remains optimistic its performance will be sustained going forward considering the strategic cost-reduction efforts and improved operating procedures we have in place,” he said.

The airline doubled cargo carried, on the same period last year, to 55,000 tonnes.

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