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Ethiopian Airlines receives $40 million loan approval for five 777s

posted Mar 25, 2011, 5:49 AM by Rowan Hewitt


Christine Boynton

The African Development Bank Board of Directors approved a $40 million second lien corporate loan to Ethiopian Airlines for the purchase of five Boeing 777-200LRs. The aircraft are part of ET's investment plan for 2010-2018 to replace older aircraft and expand capacity on long-haul routes to and from Africa.

The carrier ordered the five 777-200LRs last year, along with 10 737-800s (ATW Daily News, Jan. 21, 2010). It will launch daily 777-200LR Addis Ababa-Beijing service in May with the new aircraft.