Ethiopian Airlines has secured a $450 million loan with Citi Corporate Banking and Export Agency and Finance to finance the purchase of three Boeing MAX 8s and two 777Fs. The loan is guaranteed by EXIM, the US Export-Import Bank.
The loan secures the financing of Ethiopian’s fleet renewal. All five aircraft are scheduled for delivery before the end of the year. So far, only one MAX 8 has been delivered on December 15. When delivered, the fleet will have grown to 150 aircraft.
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.
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