Ethiopian Airlines concludes financing of five B777-260LRs

Ethiopian Airlines announced the Africa Finance Corporation, and other financial institutions, has concluded the co-financing of five B777-260LR for the carrier (punchng.com, 06-Jul-2011). The project is financed with senior debt from United States ExIm Bank. The AFC provided USD24 million as part of a second lien loan tranche, along with contribution from Africa Development Bank and PTA Bank. The new aircraft will expand Ethiopian Airlines' capacity on long-haul routes from its Addis Ababa hub.