in Business & Finance

AfDB approves USD $159 Million corporate loan to Ethiopian Airlines for fleet modernisation plan

Posted 21 December 2016 · Add Comment

The Board of Directors of the African Development Bank (AfDB) has approved a financing package of USD 159 million to partly finance Ethiopian Airlines' expansion plan and fleet modernisation programme, reports All Africa.

The package comprises two tranches, with the first tranche (85% of the financing) being covered by African Trade Insurance, Africa's export credit agency, which will be providing credit risk insurance to the transaction.

The Bank's support will allow Ethiopian Airlines to keep the momentum on its expansion plan and be on track on its route operating roadmap.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Flight for sore eyes

It's not rare to spot an MD-10 aircraft in African skies but there is one unique jet, owned by Orbis that is saving the sight of thousands and offering life-changing training in eye care.

Etihad Airways adds new B787 to Casablanca route

Etihad Airways is to operate its flagship Boeing 787 Dreamliner on the Abu Dhabi – Casablanca route, effective 1 May 2018.

Conference plots the future direction for drones

Unmanned air vehicles and their potential uses throughout Africa were put under the microscope at the Drones East Africa Conference in Nairobi. Githae Mwaniki reports.

Air Austral accedes to Air Madagascar's shareholding

Air Austral has completed its accession to Air Madagascar's share capital, reports ch-aviation.

The ATR 72-600 tours West Africa

From December 11 to 14, an ATR 72-600 in the colours of Air Sénégal will embark on a demonstration tour in three West African countries.

EgyptAir on cloud nine with latest 737-800 delivery

EgyptAir has received its ninth and final Boeing 737-800NGs on a lease deal from Dubai Aerospace Enterprise (DAE) and valued at $864 million. All nine were handed over during in the course of the past year.

Aviation Africa SK18418
See us at
Aviation Africa BT18418