There are indications that the carrier equally wants to be competitive like other foreign airlines which fares are said to be more expensive compared to European carriers. However, under the new system implemented by Ethiopian Airlines, these purchases must now be made in dollars. The inability of airlines to repatriate funds from ticket sales in Ethiopia is hindering the country’s economic growth and recovery citing industry leaders. “The blocked funds issue is a significant constraint on our ability to invest and operate effectively in the Ethiopian market,” said Kamil Alawadhi, IATA’s Regional Vice President for Africa and the Middle East. Alawadhi noted that the blocked funds crisis in countries like Ethiopia is a major factor holding back the aviation sector’s contribution to economic growth across the continent.

Source: Ethiopian News July 17, 2024 09:40 UTC