Press Release


On April 11, 2011, Ethiopian Airlines received, "Deal of the Year 2010" Award by Air Finance Journal, a leading financial magazine serving the commercial aviation industry worldwide. According to Air Finance Journal, Ethiopian Airlines won the award in the African category for the package deal to finance its five B777-200LR airplanes and a spare engine. Ethiopian Airlines’ profitable business plan and good history of repaying loans contributed to sealing the deal.

Mr. Kassim Geresu, Chief Financial Officer of Ethiopian received the award during the ceremony held at Intrepid Museum in New York on April 11, 2011. While receiving the award Mr. Kassim said, "We would like thank all partners involved in this transaction and commend Citibank’s effort to bring together a consortium of non-aviation banks, particularly African Development Institutions to participate in the junior loan transaction that show the bank’s dedication and confidence on Ethiopian’s current strength and business plan."

Ethiopian has in a row received three brand new 777-200LR aircraft continuing its plan to operate the newest fleet in the world. The fourth and the fifth aircraft will join in April and July 2011 respectively. Ethiopian Airlines is the first carrier in Africa to operate the ultra long range and environmentally friendly 777–200LR aircraft.

About Ethiopian

Ethiopian Airlines, one of the largest and fastest growing airlines in Africa, made its maiden flight to Cairo in 1946. With the addition of new flight services to Hangzhou, Milan, and Madras Ethiopian will provide dependable services to 63 international destinations spanning four continents.

Recently, Ethiopian won the 2011 "AFRICAN CARGO AIRLINE OF THE YEAR" Award for its excellence in air cargo. Ethiopian won the NEPAD Transport Infrastructure Excellence Awards 2009 and the 2009 "Airline of the Year" award from the African Airlines Association (AFRAA). In August, 2008, Ethiopian won "the 2008 Corporate Achievement Award" of Aviation & Allied Business for setting the pace towards the development and growth of the African aviation industry. Ethiopian is also the first African carrier to win the 2008 Brussels Airport Company Award in recognition of its distinguished long haul operations witnessed through the introduction of new routes, new products, and close cooperation with Brussels Airport in marketing activities.


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