ANNUAL REPORT

2022/2023
 Annual Report 2022/2023

Contents Page

• Board Directors 6

• The Winning Soccer Team (WST) 10

• Group CEO Message 13

• Mission Statement 14

• Awards 16

• Graduation EAA 17

• Infrastructures 21

• Cargo 22

• Maintenance, Repair and Overhaul (MRO) 24

• Catering 26

• Ethiopian Aviation Academy 28

• Efficient Ground Service Operation 30

• Skylight Hotel 34

• AirportService 36

• Financial Report 38
GLOBAL CONNECTOR OF PEOPLE
AND GOODS WITH AWARD WINNING
SERVICES
 Annual Report 2022/2023

ETHIOPIAN AIRLINES
GROUP MANAGEMENT
BOARD

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Lt. General Yilma Merdasa

Board Chairman

Mr. Temesgen Tiruneh Mrs. Yasmin Wohabrebbi

Mr. Teklewold Atnafu Board Member Board Member
Board V/Chairman

Mr. Retta Melaku Mr. Alemayehu Assefa

Mr. Tadesse Tilahun Board Member Board Member
Board Member

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EXECUTIVE
MANAGEMENT

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Mr. Mesfin Tasew was appointed as Group

Chief Executive Officer of Ethiopian
Airlines in March 2022.

He joined Ethiopian in 1984 as Associate

Engineer and progressed through the ladder
and served in supervisorial and managerial
positions in the Aircraft Maintenance and
Engineering areas. In 1997 and 1999, he
was appointed as Director Operations
& Technical Systems Support and Chief
Information Officer, respectively.

In 2006, he was appointed as Vice

President of Maintenance and Engineering.
Mr. Mesfin also served as Chief Operating
Officer of Ethiopian Airlines from 2010
– 2021, and Chief Executive Officer of
ASKY Airlines from April 2021 to March
2022.

Mr. Mesfin also serves as a member of the

International Air Transport Association
(IATA) Board of Governors.

He holds BSC and MSc Degrees in

Electrical Engineering from Addis Ababa
Mesfin Tasew University. He also holds Master’s in
Group Chief Executive Officer, Business Administration (MBA) from
Ethiopian Airlines Open University in the UK.

Mesfin Tasew
Group Chief Executive Officer,
Ethiopian Airlines

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Mr. Retta Melaku Mr. Lemma Yadecha Mr. Meseret Bitew

Chief Operating Chief Commercial Chief Financial
Officer Officer Officer

Mr.Mengistu Bezie Mrs. Zenebework Mr. Michael Yared

VP Internal Audit, QMS, G/Tsadik VP Customer Service
SMS, Compliance and Group VP HRM
Business Sustainability

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Mr. Getinet Tadesse Mr. Genanaw Assefa Mrs. Rahel Assefa

Chief Information VP Legal Counsel & VP Marketing
Officer Corporate Secretariat

Capt. Yoseph Hailu Mr. Daniel Abebe Mr. Hailemelekot

VP Flight Operations Group VP Strategic Mamo
Planning & Alliance VP ET Holiday, Digital
Sales and GCIC

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Mr. Eskinder Alemu Mr. Kassie Yimam Mr. Kidus Melkamu

CEO Ethiopian Airports MD Ethiopian Aviation MD Ethiopian MRO
Academy Services

Mr. Abel Alemu Mr. Mesfin Biru Mr. Girma Kebede

MD Ethiopian Cargo MD Ethiopian MD Ethiopian Ground
& Logistics Services International Services Services

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GROUP CEO MESSAGE

The 2022/23 fiscal year has been a period where Ethiopian Airlines Group maintained its
successful journey of registering excellent achievements across its business units, surpassing the
pre-pandemic level under the elegant leadership of the newly appointed executives in early 2022.

In the fiscal year, Ethiopian transported around 14 million passengers and 714,000 tons of cargo
to its vast global destinations scattered across five continents. The number of our modern aircraft
grew to more than 145 while we registered a revenue of 6.13 billion USD in the just ended fiscal
year.

The vast Ethiopian global network continued to grow amidst the fiscal year. Halted flights to
Bulawayo, Medina, Kuala Lumpur, and Abidjan-New York were reinstated while new passenger
services to Amman, Atlanta, Chennai, Copenhagen, Singapore, Karachi, Zurich, and freighter
services to Casablanca, Shenzhen, and Xiamen were started.

As our operations continue growing to reach new heights, we have worked on enhancing our
capacity in terms of fleet size in the 2022/23 fiscal year. We recorded a landmark order of
84 modern aircraft with Airbus and Boeing, worth USD 23 billion at List Price at the Dubai
Airshow in November of 2023. These orders will gear up Ethiopian for the capacity that it aims
to achieve through Vision 2035.

While our orders are inline, we have started partnering with financial institutions to support our
growth strategy. In December of 2023, we have signed an agreement with Citi for a 450 million
USD loan, for five new aircraft.

The fiscal year also hosted Ethiopian Aviation Academy’s upgrade to a university level. Following
the upgrade, EAU is now offering undergraduate and postgraduate programs in various
aerospace and hospitality fields. The university will help sustain the group’s growth through
training the human capital that will carry out the strategic plan.

Ethiopian received multiple prestigious awards in 2022/23 fiscal year in various categories such
as “Best Airline in Africa 2023” for 6th consecutive year, “Best Business Class Airline in Africa
2023” for 5th consecutive year, “Best Economy Class Airline in Africa 2023” for 5th consecutive
year, “Best Business Class Onboard Catering in Africa 2023” for two years in a raw, “Cargo
Airline of the Year 2023” for two years in row and “Best Cargo Arline – Africa 2023” for five
years in row to name a few.

The fiscal year has had its own challenges however, through the collaborative performance of
Ethiopian Airlines Group’s more than 18000 hardworking employees we recorded yet another
successful year. Ethiopian Airlines management and employees worked in synergy to keep the
group winning and lay the foundation to the company’s 15-year strategic plan ‘Vision 2035’.

Having begun a new fiscal year, we will continue our hard work towards maintaining our business
sustainability, overcoming challenges along the way. Our industry is prone to uncertainty specially
when it comes to our largest expense, fuel price.

Regardless of the type of challenge our industry in general and our airline in particular may face,
I am confidence in our 78 years of experience and the dedication of our hard-working employees
to weather through it all.

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 Ethiopian Airlines Group Notes to the Financial Statements 30 June 2021

MISSION STATEMENT

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 Ethiopian Airlines Group Notes to the Financial Statements 30 June 2021

VISION Vision 2025:

To become the most competitive and leading aviation group in Africa

by providing safe, market driven and customer focused passenger and
cargo transport, aviation training, flight catering, MRO and ground

MISSION
To become the leading Aviation group in Africa by providing safe and reliable
passenger and cargo air transport, Aviation Training, Flight Catering, MRO and
Ground Services by 2025.

To ensure being an airline of choice to its customers, employer of choice to its

employees and an investment of choice to its Owner,

To contribute positively to socio economic development of Ethiopia in particular

and the countries which it operates in general by undertaking its corporate social
responsibilities and providing vital global air connectivity,

VALUES
As an airline, safety is our first priority,

Ethiopian is a high performance and learning organization with continuous improvements,

innovation and knowledge-sharing. We accept change for the growth opportunity it
brings and always seek for and apply the best ideas regardless of their source,

We recognize and reward employees for their performance and demonstrate integrity,
respect to others, candor and team work, Act in an open fashion and be result-oriented,
creative and innovative, Adopt Zero tolerance to indifference, inefficiency and bureaucracy,
Encourage 360° free flow and sharing of information, Treat our customers the same way
we would like to be treated and always look for ways to make it easier for customers to do
business with us, We are an equal opportunity employer

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AWARDS
• Ethiopian proved to be a Multi-Award Winner receiving
recognition from reputable organizations.
• Ethiopian Remains to be Africa’s Leading Airline at SKYTRAX
and has been crowned with five prestigious accolades at the
SKYTRAX 2023 World Airline Awards for:-
• Best Airline in Africa for six years in row,
• Best Business Class Airline in Africa for five years in row,
• Best Economy Class Airline in Africa for five years in row,
• Best Business Class Onboard Catering in Africa for two years in row and
• Cleanest Airline in Africa
• Best Overall in Africa Award - APEX Passenger Choice Awards 2023
• Sustainable Cargo airline of the Year -Africa - Freight Week Sustainability Awards
2023
• African Cargo Airline of the Year and Air Cargo Brand of the Year in Africa - STAT
Trade Times Cargo Excellence Awards 2023
• Outstanding Food Services by a Carrier - PAX International Readership Awards 2023
• Ethiopian Airlines has been crowned with two prestigious awards at Air Cargo News
Awards 2022, ‘Cargo Airline of the year’ and ‘Best Cargo Airline- Africa’
• Best Entertainment and Best Cabin Service awards on APEX 2022 Regional Passenger
Choice Awards
• SKYTRAX World Airline Awards for six years in a row as ‘Best Airline in Africa’ and in
various other categories.
• Business Traveller Awards for several years in a row as ‘Best African Airline’, and in
various categories.
• 2023 APEX Passenger Choice Awards, winner of ‘Best Overall in Africa Award’.
• Air Cargo News Awards 2023, winner of Cargo Airline of the Year 2023 for two years
in row and Best Cargo Arline – Africa for five years in row.
• Arabian Cargo Awards, ‘Best Cargo Airline-Africa’

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GRADUATION EAA
• Ethiopian Aviation Academy Holds First of its kind Virtual Graduation
Ceremony Ethiopian Aviation Academy, the largest and the most
modern aviation training academy in Africa, has graduated 558
aviation professionals on a graduation ceremony that was held in a
virtual environment for the first time due to COVID-19 pandemic.
The graduates include 72 pilots, 173 cabin crew, 7 aircraft technicians
and 306 marketing professionals from six countries including Ethiopia.

• Ethiopian Aviation Academy, the largest Aviation Academy in Africa,

in collaboration with Open University of UK has graduated fifteen
management staff in Master of Business Administration /MBA/ on
Saturday, June 12, 2021. The graduates are higher management staff
of the airline who have been attending the MBA program in the UK’s
Open University.

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ROUTE AND FREQUENCEY

Destination frequency

• Ethiopian Launch’s new passenger service to Amman, Jordan, with thrice

weekly as of September 2022

• Ethiopian Launch’s new service to Bulawayo, Zimbabwe, via Victoria falls

with Four weekly passenger as of 30 October 2022. A third destination
city in Zimbabwe after Harare and Victoria Falls and a third new destination
opened after the pandemic.

• Ethiopian Launch’s new passenger service to Zürich with thrice weekly as

of 31, October 2022

• Ethiopian Launch’s new passenger service to Chennai, India with thrice

weekly as of 02 July 2022

• Ethiopian Launch’s resume passenger service to Singapore with four times

a week as of 25 March 2023

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TECHNOLOGY DEVELOPMENT
• Ethiopian Airlines Group, the Largest Aviation Group in Africa, is pleased
to introduce an upgraded chat-bot for domestic and international flight
uses. The Ethiopian chat-bot, dubbed “Lucy” is equipped with various self-
service features that will enable passengers to easily process their travel
needs.

• Ethiopian Airlines Group, the leading aviation group in Africa, establishes

a global standard cargo Conversion program to convert the B-767-300
ER to dedicated freighter services in partnership agreement with Israel
Aerospace Industries (IAI).

ROUTE AND FREQUENCEY

Destination frequency

Ethiopian Airlines, Africa’s leading carrier, commenced thrice-weekly passenger

service to Washington DC via Lomé, Togo as of 01 June 2022. The new flight
increases the frequency of Ethiopian Airlines’ flights to Washington DC to 10
from the existing seven weekly flights it operates via Dublin.

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MEGA
INFRASTRUCTURE
DEVELOPMENTS

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INFRASTRUCTURES

• Ethiopian Expands Its Global Hub - Addis Ababa Bole International

Airport, unveils its new Aviation Infrastructure blending Modernity with
Bio Safety The new terminal has check-in hall with sixty check-in counters,
thirty self-check-in kiosks, ten self-bag drop/SBD/, sixteen immigration
counters with more e-gate provisions, sixteen central security screening
areas for departing passengers are the new faces of the airport. In
addition, it has three contact gates for wide body aircraft along with
ten remote contact gates with people mover - travellator, escalator, and
panoramic lifts. It will house thirty-two arrival immigration counters with
eight e-gate provisions at the mezzanine floor level.

• Ethiopian Airlines, the multi-award winning and largest airline in Africa,

has become the first airline in Africa and the Middle East to successfully
carry out the GEnx-1B engine correlation test.

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ETHIOPIAN CARGO &

LOGISTICS SERVICES
Ethiopian Cargo and Logistics services
is the largest cargo network operator
in Africa and has won multiple global
awards including Best Cargo Airline of
the year by Air Cargo News for 2 years
in a Row. Currently with our 10 - Boeing
777-200F, 2- Boeing 767-300F and 4
-Boeing 737-800F dedicated freighters
and 130+ passenger aircrafts, we serve 68
cargo and 135 passenger destinations in
Africa, the Middle East, Asia, Europe and
the Americas with an average daily uplift
of over 2000 tons of which over 611 tons
is transported in a belly hold capacity.
With its well experienced and dedicated
human capital, it has achieved the highest
aircraft daily utilization over 17 hours on
its B777F’s. With a modern warehouse of
one million tons annual storage capacity,
fully automated with state-of-the-art
technologies, Ethiopian Cargo is providing
its service globally. Through a revision of its
vision 2025, Ethiopian Cargo and Logistics
Services is planning to grow its cargo
network to 95 destinations and operate 37
freighter aircrafts by 2035.

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MAINTENANCE, REPAIR
AND OVERHAUL (MRO)

The scale of the MRO operation at

Ethiopian is mesmerizing. It is the
largest MRO service in Africa and
serves majorly Africa and the Middle
East. The facility is fully equipped with
state-of-the-art paint and maintenance
Hangars, Engine and Component
Maintenance workshops with all tools
and equipment required to maintain
aircraft, engines, and components.
Even if you have flown numerous times,
you might not have fully appreciated
the size of the largest civil jet engines
until you are up close with these huge
engines as you walk through the engine
maintenance workshop. Established
in 1957, Ethiopian MRO provides
base maintenance service at its base in
Addis Ababa and Line Maintenance
services at stations where Ethiopian
flies and extends the services to other
operators. The facility is certified by the
ETCAA, FAA, EASA and more than 20
countries CAA. Ethiopian MRO offers
world-class services to its customers and
helps make Ethiopian one of the most
dependable and safest airlines in the
world.

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ETHIOPIAN CATERING

Ethiopian In-Flight catering

facility has a capacity to produce
100,000 meals a day. The facilities
are modern and fully equipped
to deal with high demand. Good
food is important to our discerning
customers. Ethiopian In-Flight
Catering is dedicated to delivering
high-quality service and part of that
is delivering high quality dining and
beverage options. The new menus
give customers the choice of local
Injera, a vegan option, and a variety
of world cuisines including Chinese,
Halal, Kosher and Indian to Italian.

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Ethiopian Aviation Academy (EAA) is the largest and

most modern aviation academy in Africa recognized
as ICAO Regional Training Center of Excellence. To
train aviation professionals from classrooms to full flight
simulator training, EAA offers leading industry standard
training for pilots, aircraft technicians, cabin attendants
and ground services staff both for initial and recurrent
students. The Leadership & Career Development Center
is also training thousands in Management and Leadership
Skills.

Our cabin crew training simulates real-time scenarios

with training aircraft designed for emergency drills and
service trainings. Our pilot training school uses light
aircraft for its basic training with dedicated simulators.
Full flight simulators of all fleets Ethiopian operate are
available for flight training. Virtual Maintenance Trainers
(VMTs) and various workshops feature our aircraft
maintenance training. Beyond these, our academy
develops standard training packages including e-learning
and virtual classroom trainings. Trainee services include
a trainee’s cafeteria, dormitories, an administration
complex and a plush new auditorium. The academy plans
to take in 4,000 students a year in its training programs.

In line with the rapid growth of Ethiopian Airlines

Group, Ethiopian Aviation Academy has been upgraded
to Ethiopian Aviation University, which will enable it to
provide a broader range of educational programs and
increase the level of expertise in the Aviation Industry. The
University has been accredited by the Ethiopian Higher
Education Relevance and Quality Agency (HERQA),
to offer undergraduate and graduate degree programs
in various aviation and hospitality fields.

FULL FLIGHT SIMULATOR

These are the most technologically advanced aircraft as

a sign of the company’s commitment to leading Africa’s
aviation industry. We have simulators for all the aircraft
we fly; A350, B787, B777, B767/B757, B737 MAX &
NG and Q400.

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ETHIOPIAN GROUND
SERVICES

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Ethiopian Ground Service is the leading provider of ground handling services in

HAAB. We currently handle all Ethiopian flights, over 6 scheduled flights, other
airline Cargo flights, and several non-scheduled airline operations. With a vision to
expand to African airports through joint venture partnerships and acquisitions by
2025, Ethiopian Ground Services covers all aspects of ground services necessary to
handle the arrival and departure processes of airlines in Addis Ababa and domestic
airports. We have modern ground support equipment and highly trained and
committed staff. Our customer airlines handling and business development section
strategy is to emphasize the quality of its professionals on Ground Handling
services through adequate training and market development with all our network.

Ethiopian Ground Service is the most organized Ground Handling business unit in
terms of human and equipment resources, striving to attain seamless operational
excellence at the HUB. Ethiopian Ground Services is a reliable and efficient
provider of comprehensive ground handling services. The services include all
ground handling services including VIP flight handling, and we are committed to
delivering quality service that meets our customers’ needs and expectations. We
strive to always provide a satisfying experience to all our clients.

Per Vision 2035, Ethiopian Ground Services aims to be the most efficient service
provider in Africa with the highest standard of safety and quality service. Currently,
Ethiopian Ground Services supports and satisfies the hub operation in Addis
Ababa and plans to expand its services to African airports to meet the fast-growing
demand for ground handling services. Our objective is to provide high-quality
ground-handling Services that meet and exceed international standards ensuring
efficiency and excellence in service delivery. As a Ground Handling company, we
are tasked mainly to support the Ground Operations of Airlines that have made
Ethiopia as one of their destinations.

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BEAT THE
QUEUE
CHECK-IN
HERE!

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Ethiopian Airlines Group Notes to the Financial Statements

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 Annual Report 2022/2023

ETHIOPIAN SKYLIGHT
HOTEL
Ethiopian Skylight Hotel is Ethiopian
Airlines Group’s ultra-luxurious Five-Star
hotel. The hotel stands majestically just
five-minute walk away from Addis Ababa
Bole International Airport. With a total
room capacity of 1024 rooms ranging
from standard to premium and an added
feature for Executive Suites, Presidential
Suits, Persons with limited mobility and
Apartments, Ethiopian Skylight Hotel is
one of the largest hotels in the African
continent.

The stunning rooms were designed with

relaxing and superb designs that are suitable
for both corporate and leisure travelers.

Apart from the facility located outside

the airport, Ethiopian also has an ultra-
luxurious hotel within the Addis Ababa
Bole International Airport Departure
Terminal 2 (Ethiopian Skylight In-Terminal
Hotel) which is suitable for all air travelers
transiting through Addis Ababa Bole
International Airport with a capacity of 97
rooms: having conference rooms, restaurant,
gym and other facilities.

Email:[email protected]
Tel:+251116818181
www.ethiopianskylighthotel.com

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ETHIOPIAN AIRPORTS
It is separate from the Ethiopian Civil Aviation Authority (which was one department)
and was established in 2003 as a government development and profit-making
enterprise. It is mainly established to construct, maintain, and administer airports in
Ethiopia with the budget generated from the revenue collected for its aeronautical
and non-aeronautical services. Generally, it has been established to satisfy the demand
for air transportation across the country and administer all domestic and international
airports.

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Since July 2017, the enterprise has been International Airport, and other
merged with Ethiopian Airlines Group domestic airports like Bahirdar
as a Strategic Business Unit (SBU) by Int’l airport, Kombolcha, Demibidolo,
the Council of Ministers Regulation Bale Robe, Gode, Jinka. Additionally, it
No. 406/2017. is working to start a construction work
to build Mega Hub International Airport
Currently, Ethiopian airports administers and 6 new domestic airports at Nekemet,
Four International and 18 Domestic Gore-Metu, Debre Markos, Mizan-
Airports in the country. Aman, Negele-Borena, Yabello Airports.
Ethiopian Airports are also planning to
Ethiopian Airports have made huge
develop its capacity on the way to manage
expansion work at Addis Ababa, Bole
and consult airports in Africa part of our
strategic plan of 2035.

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FINANCIAL REPORT

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Ethiopian airlines Group Notes to the
Annual financial
Report Statements
2022/2023

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 FEEL THE COLOURS
Ethiopian airlines Group Notes to the financial Statements

OF AFRICA

Book | Pay | Check-In Online

Get it on Best Airline in Africa
www.ethiopianairlines.com for 6 Years in a Row
97
ENCHANTING ETHIOPIA THE
LAND OF TIMELESS APPEAL
MORE THAN 130 INTERN
IN FIVE CONTINENTS
NATIONAL DESTINATIONS
 MORE THAN 67 DESTINATIONS IN AFRICA

Cairo Cairo

KhartoumKhartoum
ar Dakar AsmaraAsmara
BamakoBamakoNiameyNiamey
Kano Kano N'Djamena DjiboutiDjibouti
Ouagadougou
Ouagadougou N'Djamena
Bosaso Bosaso
Conakry
Conakry Abuja Abuja Hargeisa
LoméLomé
CotonouCotonou
Enugu Enugu
Hargeisa
AbidjanAbidjan AccraLagos
AccraLagos DoualaDouala Juba Juba
Malabo
Malabo yaoundé
AddisAddis Ababa Ababa
yaoundé
Kisangani EntebbeEntebbe Mogadishu
Kisangani Mogadishu
Libreville
Libreville
Brazzaville
Brazzaville Goma Goma Kigali NairobiNairobi
Kigali
Bujumbura
Bujumbura Mombasa
Pointe-Noire
Pointe-Noire KinshasaKinshasa Kilimanjaro Mombasa
Kilimanjaro Seychelles
ZanzibarSeychelles
Zanzibar
LuandaLuandaLubumbashi Dares Salaam
Dares Salaam
Lubumbashi
LilongweLilongwe Nosy-beNosy-be
MoroniMoroni
Ndola Ndola
Lusaka Lusaka BlantyreBlantyre
Falls Harare
Falls Harare
VictoriaVictoria
Antananarivo
Beira Beira Antananarivo
Windhoek
Windhoek Gaborone
Gaborone
MaputoMaputo
Johannesburg
Johannesburg

Cape Town
Cape Town
MORE THAN 22 DOMESTIC DESTINATIONS

Shire Axum
Shire Axum
HumeraHumera
MekelleMekelle
Gondar Gondar

Lalibela Lalibela
Semera Semera
Bahir
Bahir Dar Dar
Dessie Dessie

Asosa Asosa
Dire Dawa
Dire Dawa
Jijiga Jijiga
Dembi DolloAddis Ababa
Dembi Dollo Addis Ababa
Gambella
Gambella
Jimma Jimma

Robe Robe
HawassaHawassa Kebri Dahar
Kebri Dahar

Jinka Arba Arba Minch

JinkaMinch Gode Gode
BOARD OF DIRECTORS

ANNUAL REPORT 2022/2023