Ethiopia: Ethiopian Closed Pre-Delivery Financing Agreement with ING
ING Capital LLC announced that it closed a 107.5 million USD pre-delivery payment (PDP) financing for Ethiopian Airlines on May 12 in respect of Airbus A350-900 aircraft. The airline is utilizing the PDP financing to finance a portion of the pre-delivery payments which it makes to Airbus prior to the delivery of each aircraft. ING Capital is the sole lender and facility agent.
On Monday, September 1, 2014, Ethiopian Airlines started its new flight to Spain’s capital, Madrid, making the city the Airline’s 10th European destination.
