ADDIS ABABA, Ethiopia (AP) - Ethiopian Airlines' chief executive officer says that the company has made a record profit he partly credited to Boeing's problematic 787 planes.
ADDIS ABABA, Ethiopia (AP) — Ethiopian Airlines' chief executive officer says that the company has made a record profit he partly credited to Boeing's problematic 787 planes.
Tewolde Gebremariam said this week the company's operating profit between July 2012 and June 2013 is 2.7 billion birr ($143,137,098) from a billion birr ($53,013,740) the previous financial year.
Citing unaudited company accounts Tewolde said that the company's net profits also surged during the period to 2.03 billion birr ($107,617,892) from 734 million birr ($39,230,167) of the previous year, a 178% increase.
Tewolde said the performance is a result of "exceptionally dedicated employees" and Boeing 787 planes he described as super-efficient. He said the planes helped the company save on fuel costs.
In January, Dreamliner's around the world were grounded because of overheating lithium batteries.