Ethiopian Airlines leases two Dash 8-400s from TrueNoord

Ethiopian Airlines has signed an eight-year sale and leaseback agreement with TrueNoord, the specialist regional aircraft lessor, for two further factory-new Dash 8-400 aircraft.  Manufactured by De Havilland of Canada, the new Dash 8-400 aircraft (MSN4626 and MSN4628) will be integrated into the fleet for immediate operation. Funding for the aircraft was provided by TrueNoord’s revolving warehouse facility underwritten by Citibank, Société Générale and Royal Bank of Canada.  Milbank represented TrueNoord and Clifford Chance represented the lenders on the financing. Maarten Grift, TrueNoord’s Sales Manager for Africa, Middle East, and CIS observes that Ethiopian Airlines’ growing portfolio will further underpin their strong