Ethiopian Airlines and Citi sign a $450m loan agreement for five new aircraft

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PRESS RELEASE

December 19, 2023, Addis Ababa and London
Ethiopian Airlines, Africa’s largest carrier, today announce a landmark USD $450 million loan agreement that will finance five new Boeing aircraft: three Boeing 737-8 and two Boeing 777F (Cargo).

The loan will be secured against the value of the five planes and has been arranged exclusively by Citi’s Corporate Banking and Export Agency and Finance teams. It is guaranteed by the Export-Import Bank of the United States (EXIM). Ethiopian Airlines is a longstanding ...