Ethiopian Airlines making huge profits
Ethiopian Airlines
As KQ struggles with losses, neighbours in Ethiopia celebrate huge profits. Ethiopian airlines register huge profits only in six months. KQ has been suspending employees over 'rot' exposure in the firm, which has deteriorated their loss condition.

However, the National Government gave Kenya Airways Sh5 billion loan to sustain operations of the loss-making airline.

Ethiopian Airlines Group grossed an unaudited profit of Sh 26 billion during the first half of the current Ethiopian financial year, Public Enterprises Agency announced. The Airlines also registered revenues increase of Sh 21.3 billion in the same period.

The current performance of the Airlines makes it the second most profitable state-ownthe ed enterprise just next to Commercial Bank of Ethiopia, which managed to gross a profit of Sh35.6 billion in the first six months of the existing financial year.

Last fiscal year, Ethiopian recorded a gross profit of Sh32.6 billion. The Airlines has planned to collect a gross profit of Sh69.6 billion at the prevailing exchange rate this fiscal year, which is expected to conclude by July 7, 2020.

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