DUBAI (Reuters – Ethiopian Airlines’ chief executive stated Tuesday that the airline is cash positive and profitable due to a strong demand for cargo flights.

Over the last two years, air freight has not been an attractive market for airlines. Rates have risen due to an increase in online shopping and pandemic-linked disruptions in supply chains driving cargo demand.

Tewolde Gebremariam, CEO, said at the Dubai Conference via videolink, “The cargo business for Ethiopian Airlines is strong”

According to him, the airline was able to manage the pandemic on its own and without aid from government agencies. It is now operating at 70% capacity and has given bonuses and pay raises for its staff.

“We have cash positive. Profitable.

Although passenger travel demand is increasing year-on-year and 2022 being better than 2021 for airlines, Gebremariam warned that the industry still has a long way to go before it can fully recover from the crisis.

Gebremariam was critical of the uncoordinated, fragmented responses that governments all over the globe have given to the pandemic. This was what he said led to bottlenecks in travel and slow recovery.

He also mentioned Dubai, United Arab Emirates as the Middle East travel hub. It has barred people who recently visited Ethiopia or 13 other African nations from transiting through it.

Gebremariam stated that Ethiopian Airlines has not flown any passengers to Dubai for three or four weeks.

“I do not believe it is beneficial for Dubai’s tourism and travel industry.”