Addis Ababa, April 22, 2013 — Ethiopian has signed a lease agreement with Air
Lease Corporation for two new Boeing 777-300ER aircraft, both on lease for twelve
years. The aircraft are scheduled for delivery in May and June 2015.
"We are very happy to finalize this deal with our strong partner, Air Lease
Corporation. These two new Boeing 777-300ERs are critical for our rapidly expanding
non-stop long haul routes. Today, our network of 72 international destinations covers
four continents through our main hub in Addis Ababa, offering the most convenient
connections to passengers traveling between Africa and the rest of the world. The
introduction of these two new Boeing 777s into our young and modern fleet is part
of our continuing commitment to afford our customers the best possible on-board
long haul experience", said Tewolde Gebremariam, CEO of Ethiopian Airlines.
"We are proud to expand our relationship with Ethiopian Airlines by placing
two brand new 777 -300ERs into their long haul fleet. These aircraft will enhance
their intercontinental operations with leading fuel efficiency and a premier passenger
experience," said Kishore Korde, Air Lease Corporation’s Senior Vice President.
Ethiopian Airlines, the fastest growing airline in Africa, made its maiden international
flight to Cairo in 1946 and now the airline provides dependable services to 70 international
destinations spanning four continents. Ethiopian is proud to be a Star Alliance
Member. The Star Alliance network is the leading global airline network offering
customers convenient worldwide reach and a smoother travel experience. The Star
Alliance network offers more than 21,555 daily flights to 1,356 airports in 193
countries. Ethiopian is a multi-award winner for its commitment and contributions
towards the development and growth of the African aviation industry and in recognition
of its distinguished long-haul operations enhanced by the introduction of new routes
and products. With its acquisition of and firm orders for several new modern fleet,
the airline is well positioned to pursue aggressively the implementation of its
Vision 2025 strategic plan to become the leading aviation group in Africa.
About Air Lease Corporation (NYSE: AL)
ALC is an aircraft leasing company based in Los Angeles, California that has
airline customers throughout the world. ALC and its team of dedicated and experienced
professionals are principally engaged in purchasing commercial aircraft and leasing
them to its airline partners worldwide through customized aircraft leasing and financing
solutions. For more information, visit ALC's website at