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Addis Ababa Hub

Ethiopian Airlines seals finance deal for new aircraft

Wolfgang H. Thome, eTN  Aug 26, 2010

(eTN) - Information was received last week from Addis Ababa, that Ethiopian Airlines had signed a deal worth more than US$1.5 billion earlier that week with the American Export–Import Bank. The funds will be used to pay for five B777 and ten B787 aircraft presently on order from Boeing Corporation and due for delivery over the coming years.

While the B777 aircraft are, according to the source in Addis, following the delivery schedule with no delays expected, the ten B787 aircraft delivery is still somewhat uncertain, considering the massive delays in pre-production and flight test schedules over the past two years. This, however, now finally seems to have stabilized somewhat and the airline, after getting reportedly huge concessions from Boeing over the delays, is confident that their still "secret" delivery calendar will now finally hold up. The new aircraft will, when delivered, take over from the ageing B767, which will progressively be phased out once the new deliveries begin to take shape.

Ethiopian, together with Kenya Airways, South African Airways, and Egypt Air, has established itself as a leader in African aviation and is offering their passengers a multitude of cross-Africa and intercontinental destinations via their hub in Addis Ababa.

Ethiopian Airlines seals finance deal for new aircraft
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