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.


Radar

BEARISH STROLLS

A street vendor around Chechnya sells colourful giant teddy bears. Theatrical spectacles with evading street vendors and officials from the Code Enforcement Authority are ubiquitous across the streets of Addis Abeba. Nearly a sixth of the capital-employed labour force is engaged in the informal sector. A series of campaigns by the Peace & Security Administration Bureau to reel in the proliferation of street vendors has been largely unsuccessful as more and more people migrate into the capita...


Radar

HEAVY SYNC

Daily labourers around Qaliti attempt to lift a portion of a giant 16-wheeler truck that was in an accident. A recent decision by the Ethiopian Customs Authority to deny clearing procedures for imports of vehicles through fractionalized letters of credit has fueled anxiety in the car import business sector. An announcement by the Adama Customs Commision Branch office last week of an auction for 237 vehicles has sparked outrage as several importers and Ethiopian diaspora are up in arms over alleg...


Radar

MARCHING BLOCKS

Renovations around the soon-to-be-inaugurated Adwa Zero Km museum around Piazza kick up in gear. The museum is an integral element of a series of mega projects in the capital carefully watched over by Mayor Adanech Abiebe. The 4.6 billion Br project sits on a whopping 45,000 sqm space and houses 11 blocks with auditoriums, galleries, gyms and art installations. The contractor is China Jiangsu International ETCG, while consultancy services are provided by Ethiopia Construction Design Supervision...


Back
WhatsApp
Telegram
Email