Ethiopian Airlines reports USD24m operating profit, down 70% in 2011

Ethiopian Airlines reported (Mar-2012) the following financial highlights for FY2011:

• Operating revenue: USD1425 million, +47% year-on-year;
  • Passenger: USD1093 million, +48%;
  • Cargo: USD178.3 million, +77.6%;
• Operating costs: USD1401 million, +58%;
• Operating profit: USD23.8 million, -70%;
• Net profit: USD70.9 million,-24%;
• Passenger numbers: 3.7 million, +18%;
• Passenger traffic (RPKs): +23%;
• Load factor: 71.5%, -0.6 ppts
• Cargo volume: 160,090 tonnes, +19%. [more - original PR]

*Based on the conversion rate at USD1 = ETB17.3727