ET wins African lease deal of the year

Ethiopian Airlines Airbus 350. PHOTO: TWITTER/FAAN

Ethiopian Airlines (ET) has won the Aviation 100’s African Lease Deal of the Year award at the Airline Economics Growth Frontiers 2018 conference recently held in Dubai, United Arab Emirates. ET won the award based on a deal with Japanese financing system, JOLCO, which financed the airlines’ A350 aircraft.

The Aviation 100 awards recognised aviation’s most outstanding performers, as well as the most innovative and successful finance and leasing deals closed in the last 12 months. Winners of the Aviation 100 awards were decided by an industry-wide survey, a rigorous vetting process and editorial consideration.

Ethiopian Airlines Group Chief Executive Officer (CEO), Tewolde Gebremariam, said it was the first time the Japanese financing system, JOLCO, financed an aircraft deal with an African airline.

Gebremariam said the deal showed the strong confidence of reputed global financiers in Ethiopian balance sheet and business plan.It will be recalled that Ethiopian Airlines had received Middle East & Africa Airline of the Year award in 2017 by Airline Economics. Ethiopian is a multi-award winning carrier crowned with Four Star certification by SKYTRAX last year, Airline of the Year awards by AFRAA as well as multiple accolades for its outstanding passenger and cargo transport services.

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