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
Latest News

The battle for survival

More than 50 local airlines have emerged and collapsed since Nigeria’s independence in 1960 and, as Chukwu Emeke reports, the cycle looks set to continue.

Ethiopian to start Flights to Barcelona

Ethiopian Airlines has finalised preparations to launch new flight services to Barcelona, Spain as of July 01, 2018, deploying the ultra-modern B787– 800 Dreamliner.

Livingstone right to presumes it could have a great future

Victoria Falls is one of Africa’s greatest tourist attractions and Zambia has been investing in its airport at Livingstone, which bears the name of a national hero. Humphrey Nkonde reports.

Airbus A330neo en route to function and reliability tests

The A330neo, Airbus’ newest widebody aircraft, has embarked on a worldwide tour to demonstrate its readiness for airline operations.

African Air Expo to take place in November

African Air Expo will take place at King Shaka International Airport in Durban between November 27-29, 2019.

Air Force chief takes over as Civil Aviation Minister in Egypt

Following a restructuring of the Egyptian government’s cabinet, Air Marshal Younes Al Masry has been appointed as the country’s Civil Aviation Minister.

Routes African SK1505180718
See us at
AAD2018 BTGroundHandling BT2205130918AirCargoAFA_BT220318210219