Daily Ethiopian news update 17 October 2020. The Amhara region police commission statement about the captured illegal money. The privatization of Ethiopian Airlines, the continent’s most successful carrier, was part of a larger set of economic reforms that will see the country’s telecoms, logistics and other critical sectors privatized.
But Finance Minister Ahmed Shide told a press conference in Addis Ababa that the decision to suspend the planned privatization was informed by the fact that the airline is doing well and “appears robust.” “Maintaining the current capacity of Ethiopian Airlines is more beneficial to the economy,” he said.
In addition to its primary income stream as the continent’s busiest airline and other income streams from airports and hospitality, the airline pivoted on the pandemic’s shutdown of global travel to build its cargo capacity.
The carrier announced a profit in June, despite an estimated $1bn in lost revenue. Ethiopian flights have been on average 40% full since the gradual resumption of passenger flights, its CEO told Bloomberg in early October.
- Ethiopian News