Ethiopian Airlines made a record high net profit of 6.8 billion birr (USD 233 million) in the 2017-2018 fiscal year that ended June 2018. Briefing reporters yesterday about the annual performance of the national airline Ethiopian Airlines Group CEO Tewolde Gebremariam stated that the airline registered a remarkable performance despite the increasing price of oil and intense competition coming from Middle Eastern airlines. The number of passengers transported by the airline increased by 21 percent to 10.6 million and cargo surged by 18 percent to 400, 339 ton. Operating revenue grew by a staggering 43 percent to culminate at 89.1 billion birr. The airline added eight new international and two domestic destinations in the fiscal year. It phased in 14 new aircraft and will take delivery of 20 more in the new fiscal year. Tewolde attributed the remarkable performance of the airline to the hard working management and employees of the airline.