Ethiopian Airlines to close $49.6 million soft loan for flight simulators

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By TESTCustomwebLP TESTCustomwebLP October 5, 2010 23:06

Ethiopian Airlines to close $49.6 million soft loan for flight simulators

Ethiopian Airlines’ Aviation Training Academy plans to buy simulators for different aircraft to train pilots, along with other equipment to train cabin crew.

The national flag carrier is to sign a $49.6 million soft loan agreement with Agence Française de Développement (AFD) at the end of the week. The loan, which took two years to negotiate, is expected to close on Friday, October 8.

The loan is an essential part of the airline’s plan to expand the Aviation Training Academy as a standalone service. Established in 1956 as a training centre, 20 years after the airline made its maiden flight to Cairo, Egypt, the aviation academy currently provides training to pilots, cabin crews, maintenance technicians, and marketing and finance personnel.

As part of the new strategy to turn the airline into Ethiopian Airlines Group, first reported on Aviation News on September 27 (http://www.aviationnews-online.com/airline/ethiopian-to-transform-into-aviation-group/), the aviation academy will be one of a number of subsidiary companies, including catering, international flights, domestic flights, cargo, and maintenance.

In August 2010, the academy bought 10 DA40NG pilot training aircraft and one D-SIM-40 stimulator valued at $5.1 million at list price from Diamond Aircraft Industries. Four of the aircraft will arrive in November.

Part of the new loan will be spent on building dormitories and a new auditorium, as well as training materials.

With these new aircraft, the airline will no longer need to ground aircraft to carry out training activities.

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By TESTCustomwebLP TESTCustomwebLP October 5, 2010 23:06
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