Ethiopian Airlines places order for 10 Airbus planes


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UPDATE 1-Ethiopian Airlines places order for 10 Airbus planes


(Adds details, background)
    By Aaron MaashoADDIS ABABA, June 20 (Reuters) - Ethiopian Airlines has
placed an order for 10 Airbus A350-900 <AIR.PA> aeroplanes, it
said on Tuesday, in addition to at least another 10 it already
has on order.
    The extra A350-900s will be deployed on the airline's long
haul routes connecting Addis Ababa with destinations in Africa,
Europe, the Middle East and Asia, Chief Executive Tewolde
GebreMariam said in a statement.
    The state-owned carrier is ranked the largest in Africa by
revenue and profit by the International Air Transport
Association (IATA), the global industry body.
    It wants to increase revenue to $10 billion by 2025 and
expand its fleet to 140 aircraft from less than 90 now, with
sights set on Asia. It has placed orders for 50 planes
altogether.
    In February, Tewolde told Reuters the airline's revenue rose
10.3 percent to 54.5 billion birr ($2.43 billion) in the 2015/16
fiscal year, while passenger numbers climbed 18 percent to 7.6
million. Net profit was up 70 percent at 6 billion birr.


 (Reporting by Aaron Maasho; Writing by George Obulutsa; editing
by Susan Thomas)
 ((george.obulutsa@thomsonreuters.com; Tel: +254 20 499 1232;
Reuters Messaging:
george.obulutsa.thomsonreuters.com@reuters.net))

Keywords: ETHIOPIA AIRLINES/ORDERS (UPDATE 1)



This article appears in: World Markets , Stocks
Referenced Symbols: AIR


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