ADDIS ABABA Dec 15 Ethiopian Airlines will get
a $159 million loan from the African Development Bank to help
finance an expansion plan that includes doubling the size of its
fleet and increasing its revenue to $10 billion over the next
The state-owned carrier has around 80 planes, including
Boeing 787 Dreamliners and Airbus A350-900 jets, and has 50
aircraft on order. It is considering buying either the 366-seat
Airbus A350-1000 or Boeing's 777x long-haul jet.
"The Bank's support will allow Ethiopian Airlines to keep
the momentum on its expansion plan and be on track on its route
operating roadmap," the AfDB said in a statement on Thursday.
Ethiopian Airlines was ranked the largest in Africa by
revenue and profit by the International Air Transport
Association (IATA) last year, with revenue of 49.4 billion birr
($2.22 billion) in the 2014/15 fiscal year exceeding a 43
billion birr target. It wants to increase revenue to $10 billion
in ten years time.
It attributed the growth to a rise in passenger numbers and
to an expansion of maintenance, catering and aviation training
($1 = 22.2600 birr)
(Reporting by Aaron Maasho; Editing by Elias Biryabarema and