Ethiopian Airlines, Boeing Announce Order for Four 777 Freighters - 05 October, 2011

Addis Ababa, October 5, 2011: Ethiopian Airlines and Boeing announced today an order for four Boeing 777 Freighters, making Ethiopian Airlines the first African carrier to order the twin-engine freighter. The order is valued at approximately $1.1 billion at list prices.

"As the largest African cargo carrier operating in some of the fastest growing trade lanes of the world - between Africa and Europe, Middle East and Asia - the new 777 Freighter fleet will significantly enhance our tonnage and range capabilities," said Tewolde Gebremariam, CEO of Ethiopian Airlines. "The proven operational and economical efficiency of these airplanes will reposition Ethiopian Cargo in a stronger place to continue winning in this hypercompetitive market."

"Over the past few years we've seen Ethiopian Airlines become a leader in African aviation and they are well on their way to becoming a global aviation leader," said Marlin Dailey, president of Boeing Germany, EU, Northern Europe, and Africa. "Ethiopian Airlines continues to set the standard in aviation throughout the continent – from being the first African airline to order Boeing's 787 Dreamliner, the first to fly the 777-200LR and now the first to purchase the 777 Freighter."

The 777 Freighter, the world's longest-range twin-engine freighter, is based on the technologically advanced 777-200LR (Longer Range) passenger airplane and can fly 4,900 nautical miles (9,070 kilometers) with a full payload of 225,200 pounds (102 metric tons). With high-cargo density and 10-foot (3.1-meter) interior height capability, the 777 Freighter provides a cargo capacity normally associated with larger airplanes and features the lowest trip cost of any large freighter.

"Ethiopian Airlines has used Boeing's best products to enhance its fleet for more than 65 years," said Van Rex Gallard, vice president of Sales for Africa, Latin America, & the Caribbean, Boeing Commercial Airplanes. "This order signifies that growing relationship and we thank Ethiopian Airlines for choosing the 777 Freighter to enhance and grow its cargo capabilities."

Boeing offers the most complete family of freighters, providing superior efficiency and operating economics in support of airline profitability.

Ethiopian was the first to operate the 777-200LR (now with five in its fleet) and the first to order the Boeing 787 Dreamliner with an order for 10. Ethiopian Airlines currently operates an all-Boeing fleet of 737, 757, 767 and 777 airplanes in passenger service and a 757, MD11 and 747 in cargo operations.

About Ethiopian

Ethiopian Airlines, the most profitable airline in Africa, made its maiden flight to Cairo in 1946. With the addition of new flight services to Milan, Ethiopian provides dependable services to 63 international destinations spanning four continents.

Recently, Ethiopian received the 2011 "AFRICAN CARGO AIRLINE OF THE YEAR" Award for its excellence in air cargo. Ethiopian won the NEPAD Transport Infrastructure Excellence Awards 2009 and the 2009 "Airline of the Year" award from the African Airlines Association (AFRAA). In August 2008, Ethiopian won "the 2008 Corporate Achievement Award" of Aviation & Allied Business for setting the pace towards the development and growth of the African aviation industry. Ethiopian is also the first African carrier to win the 2008 Brussels Airport Company Award in recognition of its distinguished long haul operations witnessed through the introduction of new routes, new products, and close cooperation with Brussels Airport in marketing activities.