Ethiopian Airways survival technique proved to work regardless of $1 billion loss after grounding 90 % of passengers’ planesEthiopian Airways Cargo airplane. Photograph credit score : EALborkenaJune 19, 2020Ethiopian Airways grounded about 90 % of its passengers’ planes following because the Coronavirus turned a world pandemic. The financial value is excessive.Group CEO, Tewolde Gebramariam, stated in a span of 5 months (between February and June) about $1 billion in income from its main revenue stream – passenger flights.Nonetheless, Ethiopian managed to pay for its month-to-month bills which he stated is about 5 billion Ethiopian birr (which is within the neighborhood of 146 million {dollars}).The CEO spoke with nice delight that Ethiopian Airways didn’t lay off workers or lower wage, didn’t take a mortgage to proceed operation, and didn’t get monetary help from the federal government throughout these difficult instances.He additionally stated that mortgage reimbursement was paid in time with out the necessity to ask for an extension of it.As the worldwide disaster hit, which affected the aviation business, Ethiopian Airways shelved its progress technique and got here up with a survival technique.A constructive response to the cargo service, which was transporting medical provides for COVID 19 prevention, enticed Ethiopian to increase additional within the realm of cargo service.Twenty-five passenger planes had been transformed to cargo by eradicating the seats.  Not earlier than lengthy, Ethiopian Airways turned busy delivering medical provides to COVID 19 affected international locations together with Spain, Portugal, Germany, France, the UK, USA, Canada, Brazil, and dozens of African international locations.The CEO stated that Ethiopian Airways is proud that it was a part of the life-saving efforts in lots of international locations. “It is something that all citizens could be proud of,” he stated.He additionally acknowledged the efforts of Ethiopian Airways workers for the arduous work and the Ethiopian authorities. Be a part of the dialog. Like borkena on Fb and get Ethiopian Information updates usually. As nicely, it’s possible you’ll get Ethiopia Information by following us on twitter @zborkenaThe publish Ethiopian Airways misplaced $1 billion in a span of 5 months appeared first on Borkena Ethiopian Information.

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