2merkato

Ethiopian Airlines finalized a 1.2 billion US dollar loan deal to finance the ten Boeing B787-8 Dreamliner aircraft it has on order.

The legal documentation for the loan process including all lenders, financial guarantors and manufacturers was concluded recently according to officials with the airline.

The initial deal to set the loan process in motion was concluded last year according to Nega Mekonnen, Vice President of Corporate Finance of Ethiopia.

Ethiopian Airlines has confirmed an order for nine Boeing 787-9 Dreamliner aircraft, with deliveries scheduled between 2031 and 2033, as the carrier moves to expand its long-haul capacity and strengthen international connectivity.

Ethiopian Airlines is to preparing to launch a new flight route to Madrid starting from the coming June according to sources. The airline is hoping to offer flights to Madrid three time a week as of June 15 if things go according to plan.

Management at Ethiopian have been in touch with the Administration of the Madrid Airport and the Spanish Civil Aviation Authority to discuss the details involved with the planned flight service said the sources.

The public relations office of Ethiopian Airlines is yet to confirm the planned flight beyond saying that a study has been launched to review the potential of the route but a decision has not been made either way.

Ethiopian Airlines, Ethiopia’s flag carrier, is planning to establish a new carrier in Central African according to a Senior Executive.

The management aims to create a new African airline to provide service to Central and Southern Africa said the official.

Ethiopian expects to attract investors such as South Africa Airways and Egypt Air in the proposed project although the detail work plans are still in development noted the official.

Ethiopian Airlines has registered rapid and profitable growth in the past two years in spite of the global economic crisis and periodic increases in petroleum price.

The increase in petroleum prices, the global economic crisis and political instability in the Middle East has been a significant challenge for other airlines according to the Public Relations and Communication Service of the airline.  

Ethiopian Airlines managed to remain profitable and competitive during this financial year by synchronizing its services with the demand market and offering favorable flight conditions for passengers.