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.


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High-Level Event Aims to Address Humanitarian Crisis

Development partners and government officials are expected to discuss improved humanitarian responses at a crucial event in Geneva, Switzerland this week. Co-hosted by the Ethiopian government and the UN Office for the Coordination of Humanitarian Affairs (OCHA), the primary goal is to secure pledges from both development partners and the government, according to officials. Millions face hardship due to conflicts, economic downturns, climate shocks, and disease outbreaks, according to a UN st...


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Mastercard Announces Up to $2.5m Grants for Agribusinesses

Small and medium enterprises (SMEs) in the agricultural sector are poised for financial support as the Mastercard Foundation Fund pledges to award grants over the next three years. The Agribusiness Challenge Fund will award grants ranging from half a million dollars to 2.5 million dollars to qualifying businesses in Ethiopia and 19 other countries. According to Smita Sanghrajika, an engagement partner at the Foundation, agribusinesses have lacked the financial resources needed to scale up and...


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Document Authentication Service Gets Fee Revamp

The Council of Ministers approved a new regulation for the Federal Document Authentication & Registration Service last week which introduces a two-tier fee structure for citizens and foreigners, with an overall increase. Beginning at 100 Br for citizens seeking document authentication for an assigning agency of single documents, the ceiling goes up to 500 Br while foreigners pay double these rates. Implementation of the new fees began this week. These changes come alongside a digitisat...


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