ASKY Airlines, the regional airline business of the West African economic bloc ECOWAS, has made net profit of $4 million, managers of the airline, Ethiopian Airlines has said.
Citing the International Air Travel Association (IATA), Ethiopian said ASKY achieved this remarkable result when in 2015 all African airlines together made a loss of $700 million.
The CEO of ASKY Airlines, Henok Teferra was quoted as saying, “This remarkable result validates the success of our business strategy; the commitment and hard work of my colleagues, and the exemplary pan-African strategic partnership with Ethiopian Airlines.
Despite the daunting challenges of the operating environment in West and Central Africa characterized by much higher operating costs than in other regions and the decline in travel demand due economic slowdown triggered by a sharp fall in commodity prices, we were able to successfully navigate thru these difficulties and attain a historical result.
This achievement encourages us to pursue our current growth plan with the introduction of new fleet and the start of long haul destinations, with a view to better serve the travel needs of the region thru our main hub in Lomé.”
The airline, which has been operating for some six years, announced that it carried two million passengers after five years of its operations in West and Central Africa.
Ghana Business News