Ethiopian Airlines Group has received a nod from Citi Group for a 450 million dollar loan to buy five new aircraft from Boeing, with two being 777 and the other three 737 Max. Their planned delivery in December next year will increase Ethiopia’s fleet to 150.
Ethiopian is by far the largest airline on the continent, managing to earn north of 6.1 billion dollars in revenues in 2022/23, which was a 20pc increment from the previous year. As part of the country’s sovereign wealth fund, Ethiopian Investment Holding (EIH), the airline was one of the two companies alongside Ethio telecom, which forked 80pc of the 35 billion Br profits in the first quarter of the year.
