Ethiopian Airlines Extends CEO Mesfin Tasew's Contract to 2027 Following Record Profits
The board of Ethiopian Airlines has extended the contract of Group CEO Mesfin Tasew by three years, securing his leadership until May 2027. This decision follows a period of exceptional financial performance for the state-owned carrier. For the 2022-23 fiscal year, the airline announced a record net profit of $635 million, a 17% increase over the previous year, with revenue growing 16% to $6.1 billion. Under Tasew, who assumed the CEO role in March 2022, passenger traffic has surged by 36% to 13.9 million, surpassing pre-pandemic levels. The contract extension reinforces the airline's commitment to its long-term Vision 2035 growth strategy, which includes significant fleet and network expansion.
Official Source: https://aviationweek.com/air-transport/airlines-lessors/ethiopian-airlines-extends-ceos-tenure-2027-amid-record-growth
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