Ethiopian Airlines will start constructing a new $5 billion airport later this year, its chief executive officer was quoted as saying on Wednesday, as the rapidly-expanding carrier outgrows capacity at its current base in Addis Ababa. The airport, which will cover an area of 35 square km, will be built in Bishoftu, a town 39 km south east of the capital, and have the capacity to handle 100 million passengers a year. Bole International Airport in Addis Ababa has a passenger capacity of about 19 million passengers annually. State-owned Ethiopian Airlines, which competes with large Middle East carriers to connect long-haul passengers, has built a patchwork of African routes from its hub in Addis Ababa to fly customers towards expanding Asian markets. It has 116 aircraft in its fleet and its net profit rose to $260 million in its 2018/19 financial year from $207.2 million a year earlier.
SOURCE: REUTERS AFRICA