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Ethiopian Airlines Loses $550 Million, But Believes It Can Survive

Simon Marks

   ADDIS ABABA - Africa's biggest airline, Ethiopian Airlines, has lost
   more than half-a-billion dollars since January because of the
   coronavirus pandemic. Despite the financial loss, the company's CEO
   remains confident the airline can keep flying, in part by increasing
   its cargo business.

   Ethiopian Airlines CEO Tewolde Gebremariam told reporters on Tuesday
   the airline had lost $550 million between January and April, as the
   coronavirus pandemic brought passenger traffic to a near-complete halt.

   He acknowledged the airline is in a serious financial crisis, and also
   reported that three airline employees have tested positive for
   COVID-19. He said the three are in stable condition.

   But, Tweolde expressed his belief that Ethiopian Airlines will ride out
   the current storm.

   He said the company was cushioning the financial blow by finding new
   streams of income.

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