Ethiopian Airlines reported $7.6 billion in revenue for the 2024/25 fiscal year, up 8 per cent from the previous year, with net profit rising 20 per cent, driven by strong international operations and continued fleet expansion.

The state-owned carrier transported 19 million passengers during the year—up from 17.1million the previous year—including 15.2million international and 3.9million domestic travelers. Cargo volumes increased 4 per cent to 785,323 tonnes. The airline also added 13 aircraft and launched six new international destinations.

Group CEO Mesfin Tasew, speaking at a press conference in Addis Ababa on Tuesday, said the results were achieved “amid serious global and regional challenges,” including ongoing conflicts in the Middle East, Sudan, the Democratic Republic of Congo, and Ukraine. He also cited policy shifts under the U.S. President Donald Trump’s second administration, which he said had complicated some aspects of the airline’s international operations.

While international business remained strong, the CEO acknowledged domestic losses following Ethiopia’s move to a market-based exchange rate. “We lost $28 million in our domestic operations due to the transition to a floating currency regime,” Mesfin said, pointing to increased operational costs not yet matched by local ticket prices.

Despite these pressures, he said the airline continues to pursue its long-term growth strategy under Vision 2035, focused on scaling fleet size, expanding network reach, and deepening service integration.