“አተርፍ ባይ አጉዳይ” – The Consequences of Corporate Greed

Image Source: In memory – https://www.designboom.com/architecture/et-302-memorial-ethiopian-airlines-flight-crash-alebel-desta-consulting-04-09-2025/

Last month, I had the opportunity to attend a memorial service on March 10, 2025, honoring the victims of Ethiopian Airlines Flight #302, which tragically crashed on farmland in Bishoftu, approximately 115 kilometers southeast of Addis Ababa, just six minutes after takeoff on March 10, 2019. The news reported that 157 passengers from 35 countries, including crew members, lost their lives in the disaster.

During the memorial service, various speakers shared moving speeches. One representative from the families of the victims stated, “This monument was erected not only to commemorate those who perished in the accident but also to send a powerful message to the aviation industry: the preservation of human lives and safety must take precedence over greed that results in the loss of 157 lives.”

We visited the burial site, as well as the crash site and the storyboard honoring all 157 individuals. We observed a moment of silence for six minutes, reflecting on the time from takeoff to the crash, to remember our loved ones. This was a sacred experience. Tears streamed down my face as I recalled the shattered dreams, broken hopes, and families torn apart by the loss of children, parents, siblings, friends, spouses, and loved ones. The absence of the victims was touchingly represented by their names etched onto the walls.

My colleagues and I were present as psychologists to offer psychological first aid to individuals from approximately 35 countries who gathered to commemorate their loved ones and witness the site of the tragedy. Few faced panic attacks or intense emotional responses as they confronted the reality of their deceased family members. The profound grief experienced by these families still resonates deeply within me.

Upon returning home, I found myself often gazing at the leather bracelet we received, inscribed with the words, “In memory of those we love.” I encountered individuals, such as a father and mother mourning their only son, a 29-year-old who lost his life in the accident while on his way to Canada, transiting through Kenya. I met a Kenyan man who lost both his wife and children in the incident. Some elderly individuals had never traveled to Africa but felt compelled to pay tribute to a friend lost in the tragedy. I heard that a friend received a message from a crew member who, just before her flight, reached out to friends gathered at the iqub, expressing her urgent need for support upon her return. I heard a husband arranging lunch with his flight attendant wife following her round trip. Each person remembers their loved ones for distinct reasons and the unique histories they shared.

What do I wish to remember about these individuals and their unplanned absence? Alongside the shared sorrow, I hope we can communicate the underlying message. As one of the speakers poignantly articulated his anger and grief, he attributed the cause of the accident to greed.

Another incident before the ET 302 crash occurred on October 29, 2018, when an Indonesian Boeing 737 MAX 8 plunged into the Java Sea shortly after departing from Jakarta, resulting in the tragic loss of 189 lives onboard. This marked the first significant accident involving the 737 MAX model. Subsequently, the crash of Ethiopian Airlines Flight ET302 on March 10, 2019, involved a similar Boeing MAX model.

In contemplating the cause of these crashes, I delved deeper than just the design and software issues to uncover the underlying factors. One might wonder why these problems arose in the first place. Was it due to a lack of knowledge, skill, negligence, or perhaps a deficiency in goodwill? I sought insights from individuals knowledgeable about the aviation industry regarding comments I had heard about “greed” during the inauguration of the memorial site program, particularly in relation to the Boeing aircraft accident that resulted in the loss of 346 lives.

They clarified that Airbus and Boeing are intense competitors in the aviation sector. Boeing aimed to outmaneuver Airbus by developing fuel-efficient aircraft equipped with cutting-edge technology, thereby increasing profits and satisfying shareholders. This strategy could also entice Airbus customers to switch to Boeing. Unfortunately, in pursuing this competitive edge, they concealed crucial information about design and software flaws that ultimately compromised safety, costing lives and damaging their reputation.

Corporate greed refers to “corporations’ excessive pursuit of profit and resources, often at the expense of ethical considerations, social responsibility, and fair business practices. It manifests when companies prioritize short-term financial gains over long-term sustainability, exploiting employees, communities, or the environment in the process.”

“This phenomenon can be driven by factors like intense pressure for short-term profits, incentive structures that reward financial performance over ethics, and a focus on maximizing shareholder value. It can lead to unethical practices such as fraudulent accounting, environmental harm, or unfair treatment of workers.”

Boeing’s loss due to greed was beyond the profit they wanted to make. I read that they lost more than they could gain. The compensation and settlements were tens of billions of dollars, and the grounding of the 737 fleet lasted two years, leading to significant financial losses. The losses of aircraft customers and market were huge. The incalculable long-term impact on the business was not foreseen. 

In Amharic, there is a proverb called አተርፍ ባይ አጉዳይ,” which meansthatwhen the intention to profit results in loss due to the wrong strategies. This exactly explains what happens with greed.

My brothers and sisters, that is what greed does to companies and individuals. It makes us losers. Greed, the intense desire for wealth or possessions, at the expense of others, can profoundly impact individuals and society.    It leads people to abuse their power, resources, and precious relationships.  Sharing is less costly than greed’s “benefits.”  

Let us examine our intense relationship with money and power.  Is your ambition healthy, leading to sharing or egoistically subjugating others to your benefit?  Know that greed does more harm than its imaginary benefits.

In memory of those we love, let us fight greed!

Written by: Seble Hailu (Ph.D.)

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