Ethiopian Airlines, Citi bank sign a $450 million loan agreement for five new aircraft

Ethiopian Airlines, #Africa’s leading carrier, has just announced a $450 million loan agreement to finance the acquisition of five new Boeing aircraft. The fleet expansion includes three Boeing 737-8 and two #Boeing 777F (Cargo) planes, amplifying the airline’s operational capacity.

This landmark loan, facilitated by #Citi’s Corporate Banking and Export Agency and Finance teams and guaranteed by the Export-Import Bank of the #United_States (EXIM), underscores the strong partnership between Ethiopian Airlines and Citi. The deal not only marks Citi’s largest aircraft financing in Ethiopia in the last decade but also reflects its commitment to supporting clients with cross-border needs.

With delivery scheduled for December in the #US state of Washington, the new additions will elevate Ethiopian Airlines’ fleet to 150 aircraft, reinforcing its position as a key player in the global aviation industry. These aircraft will enable Ethiopian Airlines to expand its reach to new destinations, driving its ambitious growth plans forward.

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Source:-Adis Standard