The Export-Import Bank of the United States announced it will back the bonds that were issued by Ethiopian Airlines. The Airlines issued the bonds to buy ten Boeing 787 Dreamliner airplanes.
It was mentioned that the Airlines received a competitive interest rate from the bank. The agreement is good news to both parties because it helps the American export sector and Ethiopian Airlines will benefit from the financing program according to EXIM Bank Chairman and President Fred P. Hochberg.
Nippon Export and Investment Insurance (NEXI) is to be the co financer on the deal it was also mentioned.
The US EXIM Bank has been working in cooperation with Ethiopian Airlines starting from 2002 to support the renewal and expansion program launched by the national carrier.It is to be remembered that the second Dreamliner purchased by Ethiopian Airlines was delivered in Seattle on Wednesday, October 3, 2012 and arrived at Addis Ababa Bole International Airport on Friday, October 5, 2012.
On the same day, Ethiopian second Dreamliner made its first scheduled flight to Paris. Ethiopian Dreamliner’s flight to Paris is part of tour of stations Ethiopian has been making with its Dreamliner.
Since August 2012, Ethiopian Dreamliner, "Africa First", has been flying to destinations in its extensive network across the world, adding new level of comfort to its valued customers. Ethiopian is the first in Africa and ahead of any outside of Japan to own and operate the 787.
Source: http://www.exim.gov/newsandevents/releases/2012/ExIm-Backs-Bonds-Issued-by-Ethiopian-Airlines-for-Export-of-US-Aircraft.cfm
