► KENYA: Mombasa Air Safari Let410 crashes on take off killing 4 and critically injuring 3.

Another sad day today in African aviation as a Kenyan registered LET 410 (unconfirmed 5Y-UVP) belonging to Mombasa Air Safari (RRV) crashed on take off from Ngerende Airstrip in the Masai Mara Game Reserve, Kenya bound for Mombasa, killing the two pilots and two German tourists on-board with another three were critically injured. The other four passengers received injuries of varying degrees, though are in a stable condition.

►► SUDAN: Numerous Sudanese government officials killed as Alfa Air Antonov 26 crash claims 32 lives.

What should have been a day of celebration to mark the end of Ramadan instead turned into a day of national mourning as an Alfa Air Sudan Antonov 26 (MSN: 47302606 | ST-ARL) crashed into a slope in the Nuba mountains south of Talodi, at about 08h00 local time, en route from Khartoum to Talodi, South Kordofan State, killing all 32 (26 passengers and 6 crew) passengers on board.

Alfa Air Sudan An26 (ST-ARL) (UR-SDV)

The Aviation Herald reports that: 

"Local Television reported the aircraft went around on its first attempt to land in Talodi due to weather but did not manage to climb above the terrain during the go-around. Sudan's Civil Aviation Authority reported at the time of the crash, visibility was substantially reduced due to a dust and dirt storm in the area. "

Source [The Aviation Herald]

The Antonov was chartered to take the various officials to Talodi to "congratulate the town's citizens on Eid Al-Fitr."

Wreckage from the An26 "ST-ARL" (Al Shorouk)

Amongst the dead are:

1. Engineer Ghazi Al-Saddiq - the federal Minister of Guidance and Endowments.
2. Mahjoub Abdul-Rahim Tutu - the State Minister at the Ministry of Youth and Sports. 
3. Eissa Daifalla - the State Minister at the Ministry of Tourism, Antiquities and Wildlife. 
4. Ali Al-Jailani - the Minister of Education of Khartoum State. 
5. Mekki Ali Balayel - Leader of the Justice Party. 
6. Mohamed Hassan Al-Jaafari - Commissioner at Headquarters of Khartoum State. 
7. Tariq Mubarak - Commissioner of Khartoum North. 
8. Maj. Gen. Salah Ismail - the Air Forces. 
9. Maj. Gen. Ahmed Musa Ahmed - the Police Forces. 
10. Maj. Gen. Ahmed Al-Tayeb Abu-Guroon, the Security and Intelligence Organ. 
11. Brigadier Lugman Omer - Second Commander of the People's Defence Forces. 
12. Hamid Al-Aghbash - the National Assembly. 
13. Dr. Mohamed Al-Bakhit Al-Bashir - the Islamic Figih Council. 
14. Al-Saddiq Abdul-Majid Al-Makkawi - the People's Defence Forces. 
15. Awadal-Karim Siral-Khatim - Deputy Coordinator of the People's Defence Forces. 
16. Waeez Salaha Omer - Headquarters of the People's Defence Forces. 
17. Omer Mahjoub Ahmed - Deputy Coordinator of the People's Defence Forces. 
18. Salah-Eddin Mustafa - the People's Defence Forces - Jabal Aulia Locality. 
19. Abdul-Azim Hamza - the National Congress - Khartoum State. 
20. Abdul-Atti Ahmed - Correspondent of the National Television. 
21. Al-Sheikh Abdul-Rahim - the media mission. 
22. Bashir Fadl Al-Sid - Khartoum State Media. 
23. Abdul-Hai Al-Rabie - the media mission. 
24. Ismail Abdul-Karim - the media mission. 
25. Captain Saif-Eddin - Director of Office of Maj. Gen. Abu-Guroon. 
26. Al-Sayer Mohamed Al-Sayer - the Ministry of Guidance and Endowments. 

27 /28/ 29/ 30/ 31/ 32 - the crew of the plane.

Source [SUNA Sudan] 

►UPDATE: The authorities revealed that the crew of the ill-fated plane was comprised of four Russian pilots, a Sudanese pilot called Abdel Moniem and two female Sudanese stewards. The head of the Sudanese Civil Aviation Corporation (SCAC), Mohammed Abdel Aziz, has resigned as a result of the crash.

In recent years, Sudan has had numerous aviation accidents and incidents that have severely damaged the country's aviation image. Khartoum has frequently complained that its poor record in air safety is largely due to lack of spare parts for its aircraft caused by US Sanctions.

►► EQUATORIAL GUINEA: CEIBA Intercontinental waves Adios to its 777.

The Boeing 777-200LR (3C-LLS) of Equatorial Guinean carrier CEIBA Intercontinental (C2) (with what had to be one of the coolest liveries ever on a Boeing 777) today left Malabo, Equatorial Guinea for Lisbon, Portugal to be re-registered under White Airways (WI), a Portuguese leisure and charter flight operator out of Lisbon, becoming CS-TQX on the Portuguese registry.

(ex) CEIBA Intercontinental Boeing 777-200LR (sabian404)

It is unclear, however, what purpose the 777 served whilst under the CEIBA name, as the Equato-guinean flag-carrier is on the European Union's Banned Operator's List. In all honesty, it wouldn't be a massive surprise if it turned out that the aircraft had originally been bought for exclusive Presidential/VIP usage given Equatorial-Guinean President Teodoro Obiang's family's penchant for the high life and luxury which of late, has come under increasing scrutiny from the international media.

With the departure of the 777, CEIBA is now left with a fleet of two ATR 72-500s, one ATR 42 - 500, one ATR 42-320 and three Boeing 737-800 on order whilst its network consists of Malabo (Equatorial Guinea), Bata (Equatorial Guinea), Cotonou, Douala, Accra, Abidjan, Lomé, Libreville, Pointe Noire and Brazzaville.

[UPDATE]: SkyLinerAviation informs us that the 777 has now been re-registered as CS-TQX and is to be ferried back to Malabo, Equatorial Guinea as of 21 August 2012. Hopefully the plane will now return to operation for CEIBA and we'll see it in possible international service in the near future. Watch this space for further details!

► CANADA: See Pics of RwandAir's first Bombardier CRJ-900NG Jet just out of the paint shop!

The first pictures out of Montreal's Mirabel Airport, Canada have emerged of Rwandan flag carrier RwandAir's (WB) first of two Bombardier Canadair Regional Jet (CRJ) 900NGs (MSN# 15286| 9XR-WH), due for delivery in October of this year. The value of the two CRJ 900s together is USD$185million.

Said RwandAir CEO John Mirenge on signing the contract in March:

"Based on our experience with the CRJ200 aircraft, the dual-class 75-seat CRJ900 NextGen aircraft was the logical upgrade. CRJ900 NextGen aircraft also provide exceptional reliability and have much in common with other CRJ aircraft. These aircraft will be configured with seven business class seats and 68 economy class seats."

Source [Bombardier]

RwandAir CRJ900 '9XR-WH' in the paintshop.

All done. (RwandAir)

The jets will play a pivotal role in freeing up Rwandair's larger Boeing 737-800s as the carrier seeks to increase its regional footprint in coming months, with much speculation surrounding possible new routes to Lusaka (Zambia), Cape Town (South Africa), and Juba (South Sudan).

► EGYPT: Turkish Airlines to start Hurghada from October.

Turkish Airlines (TK) has continued its push into the Egyptian market by announcing the start of 3x weekly Airbus A319 operated flights between Istanbul and Hurghada, Egypt to start 17 October 2012.

Turkish Airlines Africa Network (Updated)

Turkish Airlines: Istanbul, Turkey - Hurghada, Egypt

-Effective 17 October 2012

• TK702 IST0205 – 0450HRG 319 x567
• TK703 HRG0635 – 0925IST 319 x567

Source [Airline Route]

Turkish Airlines has an extensive network in Egypt, serving Cairo, Alexandria and Sharm el Sheikh.

► SAUDI ARABIA: Saudia increases capacity to Addis Ababa & Casablanca from October.

Saudi Arabian national carrier Saudia (SV) is to increase its capacity on flights between Riyadh and Jeddah to Addis Ababa, Ethiopia and Jeddah and Casablanca, Morocco with effect from 28 October 2012.

► SOUTH AFRICA: Cathay Pacific introduces Premium Economy Class on Johannesburg route from December.

Hong Kong based carrier Cathay Pacific (CX) will from 3 December 2012, introduce a Premium Economy Class on its Boeing 747-400 service between Hong Kong - Johannesburg, South Africa.

Cathay Pacific 747 in Johannesburg (ascendent)

Cathay Pacific: Hong Kong - Johannesburg, South Africa.

- Introduction of Premium Economy on 747-400 aircraft, operating between 03DEC12 & 31JAN13 Day 13 from HKG, Day 24 from JNB from 01FEB13 to 30MAR13 Daily.

• CX749 HKG 2345 - 0700+1 JNB EQV 1234567
• CX748 JNB 1230 - 0745+1 HKG EQV 1234567

Source [Airline Route]

► MALAYSIA: Ethiopian Airlines launches Kuala Lumpur from late October 2012.

As reported by The African Aviation Tribune in late July, effective 31 October 2012, Ethiopian Airlines (ET) is to start a 3x weekly service from Addis Ababa, Ethiopia to Kuala Lumpur, Malaysia via Bangkok, Thailand using a Boeing 767-300ER. 

Ethiopian Airlines 767 at Bangkok, Thailand (AJori)

The existing Addis Ababa, Ethiopia – Bangkok, Thailand – Hong Kong service is to be reduced from 5x to 4x weekly. Consequently Bangkok will see a daily service once again.

Ethiopian Airlines: Addis Ababa, Ethiopia – Bangkok, Thailand – Kuala Lumpur, Malaysia

-Effective 31 October 2012

• ET618 ADD0025 – 1320BKK1430 – 1900KUL 763 357
• ET619 KUL2150 – 0125+1BKK0240+1 – 0750+1ADD 763 357

Addis Ababa, Ethiopia – Bangkok, Thailand

• ET608 ADD0040 – 1335BKK1435 – 1845HKG 763 x357
• ET609 HKG2150 – 0100+1BKK0210+1 – 0725+1ADD 763 x357

Source [Airline Route]

►► KENYA: Qatar Airways cancels the relaunch of Mombasa slated for late August 2012.

[UPDATED 16 August 2012] After the cancellation of its original launch date of 15 August 2012, Qatari carrier Qatar Airways (QR) will now launch their 3x weekly Doha - Dar es Salaam, Tanzania - Mombasa, Kenya route with an Airbus A320 starting 30 August 2012.

Qatar Airways in Nairobi (FGottwald)

There is some speculation that the primary cause of the route launch's sudden cancellation in early August was Qatar Airways' annoyance at "the withholding of 5th freedom rights for the Nairobi to Kilimanjaro sector of Qatar Airways' originally planned Doha - Nairobi - Kilimanjaro service, that was subsequently re routed as Doha - Dar es Salaam - Kilimanjaro".

►►[Update] Once again we got screwed folks. Our source informs us that Qatar Airways has again closed bookings for its Mombasa route effectively canning it for the meantime.

► MAURITIUS: British Airways changes departure times from Spring 2013.

British Airways (BA) will, with effect from 31 March 2013, switch its 3x weekly London Gatwick - Mauritius Boeing 777-200 flight to an afternoon departure from its current evening departure. The resultant inbound sector Mauritius - London Gatwick will switch to a daytime flight.

British Airways Boeing 777 in Mauritius (NAS)

British Airways: London Gatwick, UK - Port Louis, Mauritius

- Effective 31 March 2013

• BA2063 LGW1500 – 0545+1MRU 777 246
• BA2062 MRU0805 – 1705LGW 777 357

Source [Airline Route]

► ALGERIA: Air Algérie to start Nigeria & South Africa flights but axes Beijing.

Algerian national carrier Air Algérie (AH) has joined the growing list of carriers, both African and international, that are turning their focus towards the long neglected African market in the hopes that it will provide the stimulus needed for sustainable long term growth.

► UGANDA: Air Uganda to get rid of its last two MD87s.

In a move that will see it left with a fleet of two Bombardier CRJ-200s, Ugandan carrier Air Uganda (U7) has decided to retire its ageing fleet of McDonnell Douglas MD87s "later this year", according to Swiss aviation site CH-Aviation.

An Air Uganda McDonnell Douglas MD-87 at Entebbe

Having started out with three of the ex-Iberia aircraft, Air Uganda has subsequently retired 1 from the fleet leaving two which it uses, in addition to its two CRJ-200s, to focus on its regional network consisting of Bujumbura, Nairobi, Mombasa, Kigali, Juba, Dar es Salaam, Zanzibar all served out of its Entebbe hub.

► UNITED STATES: (Pics) Ethiopian Airlines gets the keys to its first of ten 787s and finalizes the $1.2billion loan to pay for them.

After constant delays pushed back Boeing's 787 Dreamliner launch date by over 3 years, Ethiopian Airlines took delivery of its very own, and Africa's first, Dreamliner to be named "Africa First" (MSN 34745 | ET-AOQ) at a ceremony in Everett, north of Seattle yesterday.

The 'keys' to Africa First (Boeing)

"Today begins the first day in a new era of flying for our passengers and brings us even closer to our vision for the future, Vision 2025," said Tewolde GebreMariam, CEO of Ethiopian Airlines. "We are pleased to be the first airline in the world outside Japan to receive this technologically advanced aircraft. We have been waiting for this airplane and now that we officially have it and will show it to the world, I can say with pride, it was worth the wait. This airplane is going to move Ethiopian Airlines to the forefront of aviation leadership around the globe."

The 787 Dreamliner is composed of light-weight composites and features numerous system, engine and aerodynamic advancements making it more efficient to operate compared with its competition. It is the first mid-sized airplane capable of flying long-range routes, enabling airlines to open new, non-stop routes preferred by passengers.

"Today marks not just another milestone for Boeing and Ethiopian Airlines, but a new beginning in our 65-year partnership," said Van Rex Gallard, vice president of Sales for Africa, Latin America, & Caribbean, Boeing Commercial Airplanes.  "Ethiopian Airlines continues to show their strong leadership in African aviation and their growing presence around the globe. Being the first in Africa and one of the first in the world further confirms their position globally."

After taking delivery, Ethiopian will fly its Dreamliner to Washington D.C. where the aircraft will be on display and is expected to be visited by VIP guests and media. The aircraft will then make its inaugural trip to Africa with its first revenue flight from Dulles International Airport to Bole Addis Ababa International Airport.  

Ethiopian Airways has nine more 787 Dreamliners remaining on order. The airline was the first African airline to operate the 777-200LR, the first to order the Boeing 787 Dreamliner, and the first to order the 777 Freighter. Ethiopian Airlines currently operates an all-Boeing fleet of 737, 757, 767 and 777, and now 787 airplanes in passenger service and a 757, MD11 and 747 in cargo operations."

 Source [Boeing]

Also on the trip, Ethiopian put pen to paper with the United States Export Import Bank and secured a loan for USD$1.2billion to pay for the fleet of 10 Boeing 787 Dreamliners, three of which are due for delivery before the end of year.

"The purchase of the Dreamliner required a range of loan arrangements including a loan guarantee that was acquired from The US Export-Import Bank in charge of export credit arrangements in the United States.

The junior lenders, contributing 12.5% of the total amount required for the purchase of the Dreamliners, are Dutch financier ING Capital, the Netherlands Development Financial Company, US Emerging Capital Partners, and US ICF International or Inner City Fund noted Nega.  85% of the loan was arranged through JP Morgan Chase & Co. and the ING Group and Ethiopian Airlines covered the balance.  

The payment of the loan from the major financier, JP Morgan, will be paid back over a 12 year year period said Tewolde, Gebremariam, Chief Executive of the Airline."

 Source [2merkato Ethiopia]

Ethiopian will now fly its Dreamliner "Africa First" to Washington D.C , where the aircraft will be on display to foreign dignitaries amongst whom will be US Senators and House Representatives as well as Ambassadors, Executives from the World Bank and IMF, members of the Ethiopian community, the media and other invited guests. 

It should be noted that since its early days with the Boeing 707 and 720, Ethiopian has maintained a very strong bond with Boeing and its financiers at the Export-Import Bank of the United States.

Thereafter, Ethiopian Airlines on 16 August, will operate its first revenue flight between Washington Dulles – Addis Ababa. The Dreamliner is scheduled to touchdown at Addis Ababa's Bole International Airport on Thursday 16 August 2012 following which the airline will hold massive celebrations.

►►For a list of the various destinations to be visited by the 787 on its tour, see this post.

Now for the part you've all been waiting for, from the ceremony itself:

ALL PICTURES COPYRIGHT BOEING (VIA TWITTER)

 CONGRATULATIONS ETHIOPIAN AIRLINES!!!!

► SOUTH SUDAN: RwandAir rumoured to start Juba in November as Lagos goes daily from October.

Rwanda's national carrier Rwandair (WB) is rumoured to be considering flights to the South Sudanese capital of Juba after it receives its two Bombardier CRJ900s sometime in October or November of this year according to the usually reliable Wolfganghthome blog.

"From sources in Juba it is understood that the South Sudan capital may well be on the drawing board, either nonstop or via Entebbe, while a number of destinations South of Rwanda are said to be under intense scrutiny vis a vis viability, as is an added West African destination, either stand alone or in combination with the airlines flights to Lagos."

Source [Wolfganghthome]

Rwandair's Route Network

The African Aviation Tribune has already reported on another much anticipated Rwandair route: that of Lusaka, Zambia and Cape Town, South Africa, which too, should come into effect after the arrival of the new jets, thereby freeing up their Boeing 737-800s for longer, more fetching routes.

As always, we'll keep you updated on the latest developments.

Meanwhile, the Rwandan High Commissioner to Nigeria, Joseph Habineza, recently announced plans for the airline to start a daily Kigali - Lagos, Nigeria service effective October 2012, in addition to a cargo service. Rwandair currently serves Lagos from its Kigali hub three times weekly.

"Habineza at a forum with stakeholders in Lagos said, “We can easily go to Europe or America but traveling within Africa is pretty difficult. But we want to break this barrier. In October, we will start daily flight from Lagos to Kigali. From Kigali they can connect East and Southern Africa, Dubai and other parts of the world.” While adding that the cargo business would soon start, he said the routes expansion became necessary owing to increased traffic to Rwanda from Nigeria."

Source [Daily Trust Nigeria]

As Mr Habineza mentioned, Rwandair has indeed focussed its energies on expanding its African network over expanding into Europe and the US - certainly a very prudent move to take given Europe's stagnant economies - which, despite its false allure and prestige, has often been the bane of many African carriers and start ups.

► ITALY: Air Arabia Maroc to start Marrakech - Milan from October.

Air Arabia Maroc (3O), the LCC joint venture between various Moroccan investors and Air Arabia (G9), is to start a once (1x) weekly Sunday service between Marrakech, Morocco and Milan (Bergamo), Italy effective 28 October 2012. The flight will operate with an Airbus A320.

► BOTSWANA: Air Botswana BAe146 suffers substantial engine damage following aborted take off in Gaborone.

On Saturday 11th August 2012, an Air Botswana (BP) Avro RJ85 (MSN# 1160 | A2-ABF) performing flight BP 205 from Gaborone, Botswana to Johannesburg, South Africa with 28 passengers aboard, suffered a #2 engine failure during its take off roll at Sir Seretse Khama International Airport.

The Air Botswana BAe146 'A2-ABF' in happier times  (KeithB)

"During the take-off roll, one of the engines failed and it is reported that it spat out debris. It is the hot debris from the engine that caused a small grass fire adjacent to the runway. The commander of the aircraft, Captain Adam Kereng reported that indications in the flight deck showed a malfunction of the number two engine, and therefore the take-off was aborted in compliance with standard operating procedures for this type of failure.

Once the aircraft had stopped, the passengers were disembarked and taken to the terminal building where they were briefed on the exact nature of the problem, and also on the alternative aircraft that would be made available for them to complete their flights to Johannesburg."

Source [Air Botswana]

Passengers did however complain to the Botswana press after the incident, claiming that they were "made to wait for more than 10 minutes inside the aircraft which continued to produce a cloud of smoke" and subsequently, had "to wait another 40 minutes before a minibus picked them up, as no senior personnel at Air Botswana showed up to address them, except the airhostess who also looked panicky."

Passengers were rebooked onto other flights thereafter whilst the stricken Avro (also known as a Bae 146-100) was towed away to a hangar. Fortunately, the airline is due to receive another BAe146 in coming weeks as part of Air Botswana's fleet renewal plan.

The Botswana Accident Investigations Department at the Ministry of Transport is investigating the accident.
 

► SOUTH SUDAN: Kush Air to take delivery of an Antonov AN-12.

South Sudanese carrier and charter company Kush Air is set to receive an Antonov An-12 (MSN# 347007 | ST-KNR) joining its Let 410 and Fokker 50 (MSN# 20204 | 5Y-BYE) turboprop leased from Kenya’s Skyward Aviation International.

Kush Air's Fokker 50 (Andreas Fotopoulos)

The airline currently serves Wau, Bentiu, Aweil and Malakal from its base in Juba, with plans to offer flights to Rumbek, Yambio and Renk.

► ETHIOPIA: Ethiopian Airlines debuts daily 787 flights to Washington DC from September.

With its first Boeing 787 due on Tuesday, Ethiopian Airlines (ET) has announced its new début Boeing 787 Dreamliner destination will be Washington DC, which will receive a daily 787 flight from Addis Ababa effective 20 September 2012. Currently the flight is flown with a Boeing 777-200LR.

ET-AOQ: due for delivery Tuesday 14 August 2012 (moonm)

Guangzhou, China was originally slated to be Ethiopian's 787 launch destination, but was later dropped.

Ethiopian Airlines:Addis Ababa, Ethiopia - Washington DC, USA

-Effective 20 September 2012

• ET500 ADD2215 – 0325+1FCO0425+1 – 0840+1IAD 787 D
• ET501 IAD1115 – 0745+1ADD 787 D

Source [Airline Route]

For a list of Ethiopian's Dream-Tour 787 Destinations, see this post.

► RÉUNION: Air Austral to continue French services until January 2013.

Réunion based carrier Air Austral (UU) is to continue its services between Réunion and various French cities namely Marseilles, Toulouse, Lyon and Nantes into January of 2013, having previously announced their suspension for 28 October 2012. Its service to Bordeaux however (routed via Marseille) is to end on 28 October 2012.

Air Austral Route Network

Air Austral: St. Denis de la Réunion – Lyon, France – Nantes, France
-Effective until 20 January 2013

• UU947 RUN2300 – 0705+1LYS0815+1 – 0925+1NTE 77W 3
• UU948 NTE1515 – 1620LYS1730 – 0700+1RUN 77W 4
  

St. Denis de la Réunion – Marseille, France – Toulouse, France

-Effective until 20 January 2013

• UU945 RUN2300 – 0650+1MRS0800 – 0855+1TLS 77W 5
• UU946 TLS1515 – 1610MRS1725 – 0630+1RUN 77W 6

St. Denis de la Réunion – Marseille, France – Bordeaux, France

-Service ends 28 October 2012

Source [AirlineRoute]

The route rationalizations come as part of Air Austral's efforts to return to profitability following a nasty 2011 financial year which ultimately forced the cancellation of the carrier's Australian and South Pacific operations, as well as the cancellation of two Airbus A380s it had ordered.

► ETHIOPIA: A weaker Birr helps, but isn't enough as Ethiopian Airlines records 40% drop in profits.

After having posted "record revenues" in H1 of its 2011/2012 Financial Year, Ethiopian Airlines (ET) came tumbling back down to earth as it reported a 40% drop in annual profits for its recently ended 2011/2012 Financial Year.

The most surprising part of it all is, whilst the usual suspects for the drop were to blame - that is: high global oil prices and the Eurozone Crisis - Ethiopian voluntarily awarded wage increases of between 6 and 7% to its staff, in stark contrast to its southern rival, Kenya Airways (KQ), who has been forced to make redundancies, claiming high worker wages were partly to blame for its 57% drop in Q1 2012/2013 profits.

It should be noted that a weaker Ethiopian Birr (ETB) also helped to somewhat inflate profits for the 2010/2011 Financial Year which implies that things may not have been quite so rosy without it:

"“One of the contributing factors for the surge in profit in that fiscal year was the devaluation [of the Ethiopian Birr]. And it is unfair to compare the profit made in 2010/2011 to the 2011/2012 fiscal year,” the official said."

Source [CapitalEthiopia]

Ethiopian Airlines Profits 2008 - 2012 (Ethiopian Airlines)

Ethiopian Airlines Financial Year 2011/2012 Results Summarized:

- Figures For 2011/2012 (% Change on 2010/2011)

• Net Profit: USD$40.8million (-40%)
• Operating Profit: USD$55.70million (-)
• Operating Revenue:  USD$1.88billion (+37%)
• Operating Overheads & Costs: USD$320million (+35%)
• Number of Passengers Carried: 4.6million (+25%)
• Capacity Deployed: - (+22%)

Causes:

• High Global Oil Prices
• Devalued Ethiopian Birr
• Weaker Eurozone economy & economic stagnation in China and SE Asia

Source [The Reporter, Ethiopia]

Tewolde Gebremariam (JeuneAfrique)

Despite a third successive year of declining profits, Ethiopian has remained resolute and will forge ahead with its Vision 2025 plans which, CEO Tewolde Gebremariam outlined as being focused on BRICS countries, as well as building further hubs in Central and Southern Africa - something akin to its ASKY airline which operates fairly successfully out of its Lomé, Togo hub.

In order  to achieve this, Tewolde stated that Ethiopian would have to grow at a rate of 25 - 30% per year (looking at the figures above, operating revenue grew 37% on 2011). But, with oil prices sitting high and eating into everyone's profits, there may be cuts and belt tightening measures lurking just around the corner for Ethiopian as well..