Ethiopian seeks USD 1.45 bln for 15 Boeing jetliners purchase

Ethiopian Airlines is one of the latest members of the 787 family, and the first to bring the Dreamliner into service in Africa.
Ethiopian Airlines Boeing 787

Kaleyesus Bekele, (Reporter) – The Ethiopian Airlines, the national flag carrier, is looking for 1.45 billion USD loan for the financing of the purchase of ten B787-8 and five B737-800 airplanes and spare engines. Kassim Geresu, chief financial officer of Ethiopian, told The Reporter that different types of loans are required (Finance lease – Ex-Im guaranteed
Loan, PDP loan and Junior loan). The total amount is estimated to be around
1.45 billion dollars.

Kassim said Ethiopian has already floated a request for proposals on March 15, 2011 to potential financiers adding that it is waiting for their responses.

The national flag carrier placed orders for 10 Dreamliners in 2005. Originally, deliveries were scheduled for 2008-2010 which Boeing failed to meet. Now Ethiopian expects to receive the first two Dreamliners in January next year. Ethiopian has also ordered 10 B737-800, 12 Airbus A350 XWB, and 5 B777-200LRs. The airline has received three of the B777s and expects two more in April and July this year.

Ethiopian Airlines will also be the first airline in Africa to operate the much delayed Boeing 787 Dreamliner, which is more than three years behind schedule. Ethiopian Airlines currently operates an all Boeing aircraft for its middle and long range services. Currently, Ethiopian Airlines have 46 Aircrafts: 11 Boeing 767-300ER, 8 Boeing 757-200ER, 5 Boeing 737-700, 4 Boeing 737-800, 5 Fokker 50, 7 – Q400 DHC-8, 2 Boeing 757-260F (Cargo), 2 MD-11F (Cargo) and 2 Boeing 747-200F (Cargo) operating and another 36 in order which are 12 A350-900 from Airbus, 10 787-8 Dreamliner from Boeing, 5 777-200LR from Boeing 8 737-800 from Boeing, and 1 Q400 DHC-8 from Bombardier.