Ethiopian Airlines inks deal for 5 Boeing 777 freighters

Ethiopian Airlines on Wednesday said it will buy five large 777 freighters from Boeing, the latest step by Africa’s largest cargo operator to massively expand its fleet ahead of a projected rise in trade volumes for the continent. 

The order is on top of a letter of intent Ethiopian signed in early March for five next-generation 777-8 cargo jets that Boeing (NYSE: BA) expects to begin producing in 2027.

Ethiopian’s cargo division currently flies nine 777 freighters, plus three standard-size 737-800 converted freighters. It also handles all the cargo moving on the airline’s large fleet of widebody passenger aircraft.

“The addition of these five 777 Freighters into our cargo fleet will enable us to meet the growing demand in our cargo operation,” said Ethiopian Airlines Group CEO Mesfin Tasew. The joint announcement did not include a timetable for delivery of the first 777 freighter.

The twin-engine, long-range freighter has a maximum payload of 118 tons while burning 17% less fuel than older aircraft types, such as the 747-400.

Boeing based its long-term regional forecast for 250 new widebody aircraft on projections that Africa’s economy will grow 3% per year over the next 20 years. The African Continental Free Trade Area and Single African Air Transport Market initiatives are also expected to encourage trade, as is the doubling of the continent’s working- and middle-class population. The freighters will enable Ethiopian to expand its global route network and frequencies to support the growth in goods movement. 

More FreightWaves/American Shipper stories by Eric Kulisch.

WHAT ELSE TO READ:

Ethiopian Airlines says it intends to buy 5 Boeing 777-8 freighters

DHL commits to buy 6 more 777 cargo jets from Boeing

Source: freightwaves - Ethiopian Airlines inks deal for 5 Boeing 777 freighters
Editor: Eric Kulisch