00:00We are opening new routes. We are increasing frequencies. As a result of this, we expect to grow in terms of passenger numbers at double digit rate. This will continue.
00:16What is double digit between 12 and 15. Now we have some shortage of aircraft. Otherwise, we would have grown even faster than 15 percent. Is there any indication how delayed some of the aircraft is in terms of narrow body airplanes.
00:37We are still on track. But when it comes to wide body airplanes, we are short. We still have shortage compared to our long term plan. But this will continue maybe for the coming two years.
00:55After that, we'll be receiving wide body airplanes from Boeing and Airbus in large numbers.
01:02Are you concerned, though, about some of those delays, especially if they are going to impact your passenger growth numbers?
01:10In the short term, it will affect us a little bit. But we are confident that after a while, we'll catch up with with our growth plan.
01:20Does part of that include some of these new routes and the frequencies?
01:23Africa is our home base. We will be adding more destinations into Africa, not only the primary capital cities, but now we are expanding our reach into Africa, into secondary cities.
01:40But at the same time, we will continue expanding into Asia, China and the far east region mainly.
01:51And we also have a plan to add more destinations into Europe and North America.
01:57Mesvin, I imagine the looming airport in Addis is part of the plan to expand as well.
02:04Can you talk about where you are at in terms of funding for this massive airport project?
02:11The first phase of the construction work will begin beginning of January.
02:19That will be the official start date of the physical construction.
02:24As you may know, this is a massive project with a capital investment requirement of around $10 billion.
02:37About 30% of that will come from Ethiopian Airlines Group as equity share, whereas 70% will come from lenders.
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