ETHIOPIA AIRLINES: According to the CEO of Africa’s biggest airline, Ethiopian Airlines, the company has been profitable and cash-flow positive due to increased demand for air cargo.
Over the last two years, the air freight sector has been one of the industry’s distinct strengths. Demand for cargo capacity is at an all-time high due to increasing rates, which are a direct result of the e-commerce shopping boom and are mediated by a shortage of belly cargo supply and supply chain disruptions.
Ethiopian Airlines CEO Tewolde Gebremariam told Reuters that “for our airline, the cargo business is significant, and I would dare to say that it is the basis of the company.” According to Gebremariam, the airline is working at “near to 70% of its pre-pandemic capacity” and has given employees raises and incentives. “We are liquid and prosperous,” he continued.
The CEO went on to criticise the disjointed worldwide response to the outbreak. While passenger travel demand is rising year over year, and 2022 is likely to be better for airlines than last year, Gebremariam said that the sector is still a long way from completely rebounding from the crisis. “The scattered and uncoordinated reactions of governments to the epidemic have resulted in bottlenecks and hindered the recovery” of passenger travel, he added.