Credit: Lubo Ivanko/ ShutterstockEthiopian Airlines, said to be Africa’s largest carrier, has secured a loan worth $450m from banking giant Citi Group to finance five new aircraft. The airline will purchase all five jets from Boeing: three passenger 737-8 jets and two 777F planes for freight operations. Citi was also keen to point to the US-Ethiopia business ties the deal will create, with the aircraft built at Boeing’s facilities in Washington, US, before handover to the airline. Ethiopian Airlines Group CEO Mesfin Tasew said: “We are pleased to announce that we have reached an agreement with Citi to secure a USD $450 million loan. This financing will allow us to expand our fleet size by adding five new aircraft, three B737-8 MAXs and two 777 Freighter.

Source: Ethiopian News December 28, 2023 05:58 UTC