Friday, March 28, 2025
Ethiopian Airlines has reported a record-breaking revenue of $7.02 billion for the fiscal year ending June 30, 2024, marking a 14% year-over-year increase. This strong performance highlights the airline’s continuous growth as it extends its reach across Africa and globally, further solidifying its status as a continental leader in aviation.
In a bold move to enhance its operations and expand its global presence, Ethiopian Airlines has entered into a partnership with the African Development Bank (AfDB) to finance the construction of a new, state-of-the-art airport in Abusera, located 40 kilometers south of Addis Ababa. The new facility, known as Abusera International Airport, is expected to cost approximately $7.8 billion and will help ease the pressure on Bole International Airport, which is rapidly approaching its annual capacity of 25 million passengers.
The new airport, which will be one of Africa’s largest, is designed to accommodate 100 million passengers annually, with infrastructure that includes four runways and parking spaces for up to 270 aircraft. This project will not only increase Ethiopian Airlines’ capacity but also cement Addis Ababa’s status as a key global aviation hub.
As part of its ambitious 2035 strategy, Ethiopian Airlines is also focusing on expanding its network, improving infrastructure, and investing in its workforce to maintain its competitive edge. To aid in the development of the new airport, the government of Ethiopia signed a contract with Dubai-based Sidara Engineering to design the airport, which will serve as a vital transport node for the airline’s growing fleet.
On March 14, 2025, the Letter of Intent (LOI) was signed in Abidjan by Ethiopian Airlines’ CEO Mesfin Tasew Bekele and the AfDB’s Vice President for Regional Development, Integration, and Business Delivery, Nnenna Nwabufo. This LOI serves as an initial, non-binding agreement outlining both parties’ commitment to the development of the new airport. The agreement lays the foundation for a formal partnership that will likely result in a legally binding deal.
The Ethiopian Finance Minister, Ahmed Shide, expressed strong support for the project, noting that the airport would not only provide a major boost to Ethiopian Airlines’ ability to handle more passengers and cargo but also enhance the entire African continent’s air connectivity. The AfDB, in particular, views the project as a key element of its regional integration strategy, which aims to promote enhanced mobility, increased trade, and improved infrastructure across Africa.
The AfDB’s President, Akinwumi Adesina, reaffirmed the bank’s commitment to the project, emphasizing the critical role that regional transport plays in Africa’s economic development. The new airport is expected to play a significant role in strengthening the continent’s position in global air traffic and economic integration.
Located in Bishoftu, the Abusera International Airport will complement Addis Ababa’s existing Bole International Airport, expanding Ethiopian Airlines’ ability to serve not only its existing international routes but also to tap into new intra-African and long-haul markets.
With 17.1 million passengers transported in the past fiscal year, Ethiopian Airlines continues to be Africa’s leading carrier, with an ever-expanding global footprint. As the airline looks toward future growth, the construction of the Abusera International Airport will provide the necessary infrastructure to meet the increasing demand for air travel, making Ethiopia an even more prominent player in the global aviation industry.
