Ethiopian Airlines reported robust growth in the first half of the 2025/26 fiscal year, carrying 10.64 million passengers and generating US$4.4 billion in revenue, data released by the carrier showed Tuesday.
The performance comes as Africa’s largest airline expands its network and modernizes its fleet. Operating a 170-aircraft fleet, Ethiopian Airlines serves 145 international destinations and recently launched three new routes.
According to the Ministry of Transport, the airline’s half-year passenger figures reflect a continuation of growth from the previous fiscal year, when it carried 13.9 million passengers in the first nine months of the July 2024 to June 2025 period. International traffic remains the dominant driver, with 11 million travelers in the previous period crossing borders compared to 2.9 million domestic passengers.
The current half-year results indicate sustained momentum, with international operations leveraging Ethiopia’s strategic location to capture Africa-Europe, Africa-Asia, and Africa-Americas flows. Cargo operations also showed strength, transporting 451,000 tons of goods during the six months, contributing significantly to group revenue.
Financially, the US$4.4 billion in revenue aligns with Ethiopian Airlines’ long-term “Vision 2035” growth strategy. The plan targets annual traffic of 65 million passengers, 3 million tons of cargo, and revenue of $25 billion by 2035. Analysts said the half-year results indicate that the airline is on track to meet intermediate goals, though structural and external challenges remain.
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Ethiopian Airlines faces a global aircraft shortage, climate-related disruptions, ongoing conflicts in some regions, and economic uncertainty internationally. These factors can affect flight schedules, capacity, and operating costs. Additionally, U.S. visa policies under President Donald Trump, particularly restrictions affecting African travelers, continue to weigh on the airline’s operations, limiting access to key markets.
Despite these challenges, Ethiopian Airlines’ strategic focus on international routes and fleet modernization is paying off. Analysts noted that the carrier’s ability to connect Africa with major global hubs continues to give it a competitive advantage over regional peers, particularly in long-haul routes.
The airline has been steadily enhancing operational efficiency, investing in newer, more fuel-efficient aircraft, and expanding cargo capabilities. Its cargo division, responsible for transporting goods ranging from perishables to industrial equipment, is increasingly seen as a key revenue driver, especially amid growing global trade flows with Africa.
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Ethiopian Airlines’ management said the interim results demonstrate resilience in a competitive market and validate the long-term vision for growth and diversification. The carrier is also focused on leveraging Ethiopia’s geographic centrality to optimize connecting traffic across Africa and beyond, aiming to become the continent’s leading aviation and logistics hub.
“Passenger traffic and cargo volumes continue to rise, reflecting the confidence of our clients and the effectiveness of our network strategy,” the airline said in a statement. “We remain committed to Vision 2035 targets and to sustaining operational excellence despite global headwinds.”
Industry observers said the airline’s half-year performance underscores the growing role of African carriers in global aviation. While external factors like visa restrictions and geopolitical tensions pose challenges, Ethiopian Airlines’ strategic positioning, fleet modernization, and expansion of international routes position it well for future growth.
With sustained traffic growth and increasing revenue streams, the airline is expected to continue capturing a larger share of Africa’s international travel and cargo market, while contributing significantly to Ethiopia’s economy and regional connectivity.
