ET SEEKS $1.45 BILLION FOR 15 BOEING AIRCRAFT PURCHASE

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By TESTCustomwebLP TESTCustomwebLP April 27, 2011 08:46

ET SEEKS $1.45 BILLION FOR 15 BOEING AIRCRAFT PURCHASE

Ethiopian Airlines is looking for $1.45 billion for the financing of the purchase of 10 Boeing 787-8 and five 737-800 aircraft, with spare engines.

Kassim Geresu, chief financial officer of Ethiopian, told Aviation News Online that it was seeking an Ex-Im guaranteed loan, a pre-delivery payment (PDP) loan and junior loan. The total amount is estimated to be around $1.45 billion.

Geresu said Ethiopian has already floated an RFP on March 15, 2011 to potential financiers adding that it is waiting for their responses.

The national flag carrier placed orders for 10 Dreamliners in 2005. Originally, deliveries were scheduled for 2008-2010 which Boeing failed to meet. Now Ethiopian expects to receive the first two 787s in January next year. Ethiopian has also ordered 10 737-800, 12 Airbus A350 XWB, and five 777-200LRs. The airline has received three of the B777s and expects two more in April and July this year.

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By TESTCustomwebLP TESTCustomwebLP April 27, 2011 08:46
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