Ethiopian Adds Three B787s With Long-Term Lease Agreement With ILFC

International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that Ethiopian Airlines, one of the fastest growing airlines in Africa, has agreed to lease three of Boeing’s new Dreamliner 787-8 aircraft.

“ILFC is proud to reinforce our partnership with Ethiopian Airlines by adding to their fleet the most advanced aircraft in the skies today – Boeing’s Dreamliner,” said ILFC Chief Executive Officer Henri Courpron. “Ethiopian is a proud airline with a history of success and commitment within Africa and international destinations around the world. We look forward to their continued success.”

Tewolde GebreMariam, Chief Executive Officer of Ethiopian Airlines, said, “In line with vision 2025 strategic road maps, Ethiopian is scaling up its fast, profitable and sustainable growth. Being the first in Africa and third in the world to operate the 787 Dreamliner aircraft and being satisfied with the performance of the fleet in service, Ethiopian is pleased to bring the B787 fleet to thirteen by 2015. We value our partnership with ILFC.”

ILFC’s Head of Europe, Middle East and Africa, Colin Bole commented, “Africa presents a real opportunity for the aviation industry to expand and contribute to the growth and prosperity of the continent. ILFC is committed to partnering with the region’s strategically minded airlines such as Ethiopian.” Last year ILFC opened a full-service office in Amsterdam to support regional customers including those in Africa.

The aircraft are scheduled for delivery in the first half of 2015 and will carry GEnx-1B70/75 engines. ILFC is the largest customer for the Boeing 787 Dreamliner with an order book of 74 aircraft. The 787 incorporates visionary technologies that provide environmental improvements together with enhanced fuel efficiency and passenger comfort.

Source: Ethiopian Airlines