Wednesday, May 18, 2011

Ethiopian air lines put a bid price on its aircrafts

“The airline is already conducting direct negotiations with several domestic and foreign potential buyers to sell off these aircraft,” said Henok Tefera, an official at Ethiopian, following his presentation of ET’s nine-month report to Parliament’s Transport Affairs Standing Committee on Monday, May 9, 2011.The sale was announced in the report, which indicated the airline registered a net profit of 1.2 billion Br over the past nine months. However, ET’s spending during the same period increased to 17.1 billion Br, 104.6pc more than the 16.4 billion Br the carrier had budgeted, according to the report. The rise in expenditure was attributed by the airline to the spiraling global prices of oil, which took up 39pc (6.7 billion Br) of its total spending. Read more….

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