Ethiopian Airlines secures financing for two B777Fs

Ethiopian Airlines has secured a $450m loan agreement that it will partly use to finance the purchase of two of its previously announced Boeing 777 freighters. The loan will also finance three Boeing 737-8 passenger aircraft. The airline said that “delivery of all the aircraft will be completed in the US state of Washington in December” but it did not specify when the freighters would join its fleet. The loan will be secured against the value of the five planes and has been arranged exclusively by Citi’s Corporate Banking and Export Agency and Finance teams. It is guaranteed by the Export-Import Bank of the United States (EXIM). Ethiopian took delivery of its 10th 777Flast month, for operation by Ethiopian Cargo. The aircraft is part of an order for five 777Fsmade by Ethiopian in May 2022. The B777 freighter can carry up to 107 tonnes of cargo with a maximum range of 9,200 km.