Ethiopian Seals Aircraft Acquisition Deal With Boeing


Ethiopian Seals Aircraft Acquisition Deal With Boeing

Ethiopian Airlines has reached an agreement with Boeing for the acquisition of five models of the latter's 777-8 freighter aircraft. The two firms signed a memorandum of understanding last week for the acquisition deal, valued at around 400 million dollars. Each 777-8 aircraft has a carrying capacity of 118tn. Though the figure is similar to the national carrier's 747-700 freighters, the new models are up to 30pc more fuel efficient. Over the second quarter of this year, the Ethiopian Airlines Group secured loans amounting to 283 million dollars from ING Capital, a commercial creditor headquartered in the Netherlands, for the procurement of aircraft. The loans are guaranteed by the Exim Bank of America. Ethiopian Airlines operates flights to 130 international destinations from its hub at Addis Abeba Bole International Airport. The carrier reinstated Boeing's 737-MAX aircraft to its fleet last month after the model was grounded for nearly three years following a crash that claimed 157 lives.

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...