CAPA Live: Ethiopian Airlines cash positive. 50 flights/week to China
African airlines were grounded for the period from Mar- to Sep-2020, and with no aid forthcoming it has been difficult for many airlines. As a result "the African airline industry has been severely damaged".
Ethiopian Airlines could see that there was an opportunity with cargo demand and made a quick decision to build up capacity. That has helped the airline manage its cash flow without any bailout money or borrowing, and without any lay-offs or any salary reduction.
Talking at the CAPA Live on 10-Feb-2021, Ethiopian Airlines’ Group CEO Tewolde GebreMariam spoke with CAPA’s chairman emeritus Peter Harbison.