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Africa Airline

Ethiopian secures additional financing for B777s

Wolfgang H. Thome, eTN  Mar 25, 2011

(eTN) - It was learned overnight that Ethiopian Airlines (ET) has been given approval by the African Development Bank for a co-syndicated secondary loan of US$40million towards the five Boeing B777-200LRs, which form part of an extensive order for newer and additional aircraft. ET has been at the forefront of African aviation and operates an impressive inter-African network, connecting the world via Addis Ababa through their direct flights and their codeshared flights from Frankfurt with Lufthansa.

Due to formally join Star Alliance later in the year, the entry into the globally leading airline alliance will further strengthen Ethiopian’s position to distribute traffic to Africa from their own overseas destinations but also in close partnership with their alliance partners.

In a related development, it was also learned that ET will be going daily on the route to Beijing from May onwards, just as soon as more of the ordered B777s arrive at their base and can be taken into service.

Ethiopian secures additional financing for B777s
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