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- Israel-Hezbollah exchanges intensify on Lebanon border
- French mayor sorry for 'no one died' remark over mass rape trial
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- India in box seat after Bumrah takes four against Bangladesh
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- France poised to finally get new govt
- Kompany, Alonso call for action on player workload amid strike talks
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- Bumrah takes four as India bowl out Bangladesh for 149
- Sri Lanka 134-1 to take upper hand in first New Zealand Test
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- Bumrah takes three wickets to have Bangladesh in trouble at 112-8
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- China to 'gradually resume' seafood imports from Japan after Fukushima ban
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- Deep takes two as Bangladesh totter in reply to India's 376
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- Arnold quits after six years in charge of Australia
- Asian markets track Wall Street record to extend global rally
- Guirassy and Anton to return to Stuttgart with new side Dortmund
- Marseille bidding to continue 'almost perfect' Ligue 1 start
- Arnold quits as coach of Australia men's football team
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- Man City face Arsenal in Premier League title showdown, Postecoglou under pressure
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Ethiopian Airlines bucks regional trend with profit surge
Ethiopian Airlines, the leading African flag carrier, on Wednesday reported a surge in profit for the last financial year, in sharp contrast to the ailing fortunes of other airlines in the region.
The state-owned airline saw a 79 percent jump in revenue to $5 billion for 12 months to July while profit skyrocketed 90 percent to $937 million, according to the country's sovereign wealth fund Ethiopian Investment Holdings (EIH).
The results were "despite the headwinds of worsening global economic outlook, rising fuel cost, global pandemic", EIH chief executive Mamo Mihretu said on Twitter.
He gave no further details, although state media said the airline had transported 6.9 million international travellers last year alone.
Other carriers in East Africa have been buffeted by the Covid-19 pandemic and its devastating impact on air travel, and are now grappling with the fallout from the war in Ukraine which has sent global fuel prices soaring.
Kenya Airways, for example, last week reported a 9.8 billion shilling ($82 million) loss in the six months to June, although it was an improvement on the 11.48 billion shilling ($95 million) deficit in the first half of last year.
The airline, which has been stuck in the red for years and is relying on state bailouts, reported a 76 percent increase in revenue to 48.1 billion shillings (about $400 million) over the same period as passenger numbers almost doubled to 1.6 million.
P.M.Smith--AMWN