Ethiopian Airlines eyes growth to rival Gulf carriers

Ethiopian Airlines wants to almost double its fleet over the next 12 years and expand its global network to better compete with Gulf rivals between Asia, the Americas, and Europe, according to CEO Mesfin Tasew. He said that the state-owned carrier plans to grow its fleet to more than 270 aircraft by 2035 versus 140 now, to cover 200 airports worldwide. If successful, this new growth strategy could generate annual sales of US$25b from passenger and freight operations, up fivefold on 2021 sales. Revenues are expected to grow by 20% in the coming fiscal year ending in June 2023 from US$4.8b in 2021, with a profit target of US$600m based on rising passenger numbers. Ethiopian Airlines is to looking to compete with Qatar Airways and Emirates, which are themselves growing in Africa. Alongside Emirates and Turkish Airlines, Qatar Airways controls a significant chunk of the African long-haul market via its hub at Doha Hamad Int'l. The airline is eyeing closer collaboration with RwandAir and has invested in the new airport in Kigali.<br/>