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The travel sector has been one of the worst victims of the coronavirus pandemic, with flights on the ground and borders closed.
But Ethiopian Airlines found a way to limit the damage.
Africa’s largest airline faces more than $ 1 billion in lost revenue and experienced a 90 percent drop in international passenger traffic.
But the company took a turn in March to meet growing demand for air cargo, repurposing 45 passenger jets to build its cargo fleet.
“We were very fast, very fast, flexible and agile to transfer our forces, resources and everything to the load,” Ethiopian Airlines CEO Tewolde Gebremariam told AFP in an interview.
“I would say that those actions have saved the airline.”
So far, Ethiopian has avoided seeking a ransom, laying off any full-time employees, or requesting deferrals in debt repayment, Tewolde said.
It even reported a profit of $ 44 million (37 million euros) for the first half of the year, he said, although the company declined to give details because the figures are not audited.
The airline also benefited from the UN decision to open a humanitarian transport center in Addis Ababa in April.
To date, Ethiopian has operated 360 personal protective equipment cargo charters to more than 80 countries, Tewolde said.
And once a vaccine is approved, Ethiopia plans to make “at least 40 aircraft” available for global distribution.
African carriers
As the industry tries to recover, Tewolde is looking to deepen ties with other African airlines, especially the beleaguered South African Airways (SAA).
“It is … an opportune time to support other airlines because we are in a better position,” he said.
Ethiopian already partners with Malawian Airlines and ASKY Airlines from its hub in Togo.
It also has a 45 percent stake in Zambia Airways, which Tewolde said it expected to launch “in October or November.”
But Tewolde lamented that African operators currently only meet about 20 percent of the needs of the mainland market.
“Our goal is to reverse this market share, which means that African airlines, indigenous African airlines, should get at least 50 percent,” he said.
With that in mind, Ethiopian is in talks about restructuring SAA, which has survived only through years of state bailouts.
