💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

AIRSHOW-Ethiopian Airlines in jet deals with Boeing, Airbus, Bombardier

Published 2017-06-20, 11:38 a/m
© Reuters.  AIRSHOW-Ethiopian Airlines in jet deals with Boeing, Airbus, Bombardier
BA
-
AIR
-
BBDb
-

(Adds orders from Boeing (NYSE:BA), Bombardier)

By Aaron Maasho

ADDIS ABABA, June 20 (Reuters) - Ethiopian Airlines has placed an order for 10 Airbus A350-900 AIR.PA passenger jets, it said on Tuesday, in addition to at least another 10 it already has on order.

Separately, Boeing BA.N and Bombardier BBDb.TO said the airline had also ordered aircraft from them.

The A350-900s will be deployed on Ethiopian's long haul routes connecting Addis Ababa with destinations in Africa, Europe, the Middle East and Asia, Chief Executive Tewolde GebreMariam said in a statement.

The state-owned carrier is ranked the largest in Africa by revenue and profit by the International Air Transport Association (IATA), the global industry body.

Boeing said Ethiopian had signed a commitment to buy two 777 freighters in an order valued at $651.4 million at list prices. added the airline had also ordered another 10 737 MAX 8 planes, exercising options from a 2014 order, bringing Ethiopian's total orders for 737 MAX 8s to 30.

Bombardier, meanwhile, said Ethiopian had signed a purchase agreement for an additional five of its Q400 turboprop aircraft. February, Tewolde told Reuters that Ethiopian's revenue rose 10.3 percent to 54.5 billion birr ($2.43 billion) in the 2015/16 fiscal year, while passenger numbers climbed 18 percent to 7.6 million. Net profit was up 70 percent at 6 billion birr.

Ethiopian wants to increase revenue to $10 billion by 2025 and expand its fleet to 140 aircraft from less than 90 now, with sights set on Asia.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.