December 11, 2012 Feature:
After reading this old Winging It
link on LiftnDrag blog, the article goes on to state watch Ethiopian Airlines, because
they are best positioned to take advantage of the 787 on its long legged
routes. Little did I know, they would have one 787 catch on fire at London
Heathrow, and benched it indefinitely until a resolution is found, or did I
know they would increase its profitability by 178%, and recognize the 787
directly affecting the bottom line by so much! Even with its older aircraft
inventory in play every day. If it sounds like crowing, then so be it, its
crowing a little. I can't help but get a little excited on a long shot Airlines
on a winning horse, The 787.
Article Quote: December 11, 2012
“Another look is for Ethiopian Airlines in what the
787 does for its bottom line. They will be a good case study,
since they own such a smaller number of aircraft and fly long routes. The
787 will have an immediate impact from its operations, where you will see how
it drives the bottom line at the end of next fiscal year. This is a
manageable study of its business plan and bottom line. You may gain a distinct
appreciation for the 787's financial impact on Ethiopian Airlines."
Today's Headline on Ethiopian
Comparing comparing Last Years LiftnDrag Outlook:
ADDIS ABABA, Ethiopia — Ethiopian Airlines has made a
record profit, the company's chief executive officer said this week Tewolde
Gebremariam partly credited the profitability of Ethiopian Airlines to Boeing's
problematic 787 planes. He said 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 percent
increase.
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