Ethiopian Airlines Group said it took only a minor hit from a more than 50% plunge in the country’s currency this year, shielded by income from its international routes. Africa’s largest carrier saw a “small impact” after authorities floated the birr in July, Chief Executive Officer Mesfin Tasew said Monday in an interview. Losses occurred when “local money in the banks was devalued” and the airline kept domestic ticket prices unchanged as a “social service,” he said, without giving figures.

Source: Ethiopian News November 18, 2024 15:45 UTC