Ethiopian Airlines has posted a record profit of birr2.03 billion ($107 million) for the concluded 2012 and 2013 fiscal year, showing a 178 percent increase from the birr734 million (38 million) profit reported last financial year.

Citing unaudited company accounts, the company’s CEO, Tewolde Gebremariam said the company’s operating profit between the period was birr 2.7 billion ($143 million) up from a birr 1 billion ($53 million) the previous financial year.

Tewolde said the performance was as a result of “the Boeing 787 planes which are super-efficient and helped us save on fuel costs and also our employees are exceptionally dedicated”.

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