Economy Growing in Africa

About the project Ethiopian Airlines is the flag carrier of Ethiopia. The company was founded in December 1945 and started operations in April 1946. During the past sixty plus years, Ethiopian Airlines has become one of the continent’s leading carriers. Ethiopian Airlines aims to ensure that its fleet continues to reflect latest developments in passenger aircraft technology and the airline decided to acquire five Boeing 777-200 LR, for a total cost of US$668 million. Financing The overall financing comprises of senior debt capital of US$568 million, subordinated debt of US$85 million and an equity investment of US$15 million. AFC(Africa Financial Corporation)invested US$23 million alongside Citibank Limited, African Development Bank and PTA Bank.