Ethiopian Airlines Profit Rises 12 Percent in 2014-15

Ethiopian Airlines Enterprise, Africa’s largest carrier by revenue, increased its profit by 12 percent to 3.53 billion Ethiopia birr ($165.4 million) in 2014-15 despite declining air traffic on the continent.

The fiscal crisis in African oil producers due to the falling crude price, the effects of the Ebola crisis on travel and instability in Africa and the Middle East weighed the industry down, Chief Executive Officer Tewolde Gebremariam said.