Ethiopian Airlines, Africa’s largest carrier, has announced a whopping $450 million loan agreement that will finance five new Boeing aircraft, which include three Boeing 737-8 and two Boeing 777F (Cargo). Ethiopian Airlines is a longstanding client of Citi’s Treasury and Trade Solutions (TTS) business, and their support and partnership have been instrumental to reaching the deal. The five new aircraft will bolster Ethiopian Airline’s fleet to 150 in total and delivery of all the aircraft will be completed in the US state of Washington in December. Ethiopian Airlines has ambitions to grow its fleet to over 270 aircraft by 2035. Lauding the long-standing partnership of the two parties, Ethiopian Airlines Group CEO Mr. Mesfin Tasew said: “We are pleased to announce that we have reached an agreement with Citi to secure a USD $450m loan.

Source: Ethiopian News December 22, 2023 17:49 UTC