Ethiopian Airlines Gets $450 Million Loan From Citigroup for New Planes
An Ethiopian Airlines passenger jet.
Photographer: Eduardo Soteras/AFP/Getty ImagesThis article is for subscribers only.
Ethiopian Airlines Group secured a $450 million loan from Citigroup Inc. to finance five new Boeing Co. aircraft as Africa’s largest carrier looks to expand its fleet in the coming decade.
Ethiopia’s flagship carrier will use the funds to purchase three 737 Max aircraft and two 777 freighters from Boeing, according to a statement on Tuesday. The planes will be delivered in December and will expand the airline’s fleet to 150 aircraft.