Ethiopian Secures €50m Loan

Ethiopian Airlines and the Agence Française de Développement have signed a €50m loan agreement to finance a new cargo terminal. The terminal, which will be built in two phases, will have an annual capacity of 1.2 million tonnes.

The airline plans to operate 18 dedicated freighters serving 37 international cargo destinations by 2025. It currently has dedicated freighter services to 26 cargo destinations in Africa, the Gulf, Middle East, Asia and Europe. This is the second credit agreement between the two parties. The first financed Ethiopian Airlines’ multinational aviation training centre, which is nearly complete and partially in operation.

TAGS: Africa
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