CEO Mesfin Tasew awaits green light for retirement
The Ethiopian Airlines Group announced an impressive 20 percent jump in earnings to wrap up what will likely be CEO Mesfin Tasew's final year in charge with USD 9.1 billion in total revenue.
The performance included a 16 percent rise in cargo volume, with the state-owned carrier handling 897,000 tons over the 12-month period. During a press briefing at the Ethiopian Skylight Hotel today, Mesfin stated the growth in income was matched by a 25 percent jump in expenses, largely tied to the crisis in the Gulf and other issues affecting the global aviation industry.
The CEO also told the media the search for USD 8.5 billion in funding for the construction of Bishoftu International Airport is ongoing, and stated he expects the financing to materialize sometime during the coming year.
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Mesfin's spell at the helm of Ethiopian Airlines is drawing to a close. He replaced long-time CEO Tewolde Gebremariam in March 2022, leaving his post at the helm of ASKY Airlines (in which Ethiopian holds a 40 percent ownership stake) to do so.
Mesfin had previously served as Ethiopian's chief operating officer for more than a decade.
The CEO said he is awaiting a final decision from the government before officially announcing his retirement.
