Ethiopian Airlines Revenue Reaches $9.1 Billion Despite Rising Global Cost Pressures
Ethiopian Airlines Group increased annual revenue to USD 9.1 billion in the 2025/26 fiscal year, demonstrating continued operational growth despite a sharp rise in costs driven by geopolitical tensions and disruptions across the global aviation industry.
The state-owned airline reported a 20 percent increase in revenue during the fiscal year, while operating expenses climbed 25 percent, reflecting higher fuel prices, supply chain disruptions, and the financial impact of instability in the Gulf region.
Speaking at the airline’s annual financial briefing in Addis Ababa, Group Chief Executive Officer Mesfin Tasew said Ethiopian Airlines continued expanding both its passenger and cargo businesses despite the more challenging operating environment.
Cargo operations remained a major contributor to growth, with the airline transporting 897,000 metric tons of freight during the fiscal year, a 16 percent increase compared with the previous year. The performance reinforces Ethiopian Airlines’ position as Africa’s largest air cargo operator and highlights the growing importance of freight services within the group’s diversified business model.
Alongside its financial performance, the airline said work continues to secure financing for the planned Bishoftu International Airport, one of the continent’s largest aviation infrastructure projects.
Mesfin said discussions to raise the estimated USD 8.5 billion required for the development are progressing and expressed confidence that financing could be finalized within the next year.
The new airport is expected to substantially expand Ethiopia’s aviation capacity and support Ethiopian Airlines’ long-term strategy of strengthening Addis Ababa’s position as Africa’s leading aviation hub.
Since launching its Next Horizon growth strategy, Ethiopian Airlines has continued investing in fleet expansion, cargo infrastructure, maintenance services, and digital transformation while growing its international network.
The latest results underscore the resilience of the airline’s diversified business model, which has enabled it to sustain revenue growth despite increasing operational costs and a more uncertain global aviation market.
Performance Highlights
| Indicator | FY2025/26 |
| Total Revenue | USD 9.1 billion |
| Revenue Growth | 20% |
| Expense Growth | 25% |
| Cargo Volume | 897,000 tons |
| Cargo Growth | 16% |
| Bishoftu Airport Investment | USD 8.5 billion |