Ethiopian Airlines signs $450 million loan agreement for Boeing aircraft

Ethiopian Airlines has signed a $450 million EXIM-guranteed loan agreement with Citi for five new Boeing aircraft. The loan will finance three 737-8 and two 777F aircraft. The loan is Citi’s largest aircraft financing in Ethiopia within the last decade. It was arranged by Citi’s corporate banking and export agency and finance teams with it being guaranteed by the Export Import Bank of the United States (EXIM). “A lot of work has gone into getting this deal off the ground,” said Citi Sub Saharan Africa head Akin Dawodu, “and it is thanks to Citi’s strong relationships and connectivity both within