Ethiopian and Volvo Aero Enter Business Partnership - 28 November, 2008

On November 19, 2008 Ethiopian Airlines (Ethiopian) and Volvo Aero Services Corporation of Florida, USA have signed a five-year preferred consignment agreement where Volvo Aero Services will position in excess of $20 million dollars of JT8D engine parts and materials at Ethiopian Airlines’ Head Quarter in Addis Ababa in support of the Maintenance Repair and Overhaul (MRO) activities of Ethiopian.

In return, Ethiopian will provide MRO services to its customer aircraft on their JT8D engines. "This is an excellent example of value appreciation through strategic sourcing partnerships. We are reducing capital requirements, while achieving optimum market value for our MRO customers,” says Mr. Mesfin Tasew, Vice-President Maintenance & Engineering of Ethiopian Airlines.

Mr. Claes Malmros, President and Chief Executive Officer of Volvo Aero Services adds, "I am very excited at the future potential of this new partnership, as we are building value to both of our organizations and look forward to supporting Ethiopian Airlines on additional platforms." The new business partnership between the two companies has been operational effective 20th November, 2008.

About Ethiopian

Ethiopian Airlines,, one of the largest and fastest growing airlines in Africa made its maiden flight to Cairo in 1946. With the recent addition of new flight services to Ouagadougou, Lubumbashi, and Abuja Ethiopian provides dependable services to 33 cities in Africa and to a total of 53 international destinations spread across the globe. Ethiopian will soon be the first carrier to operate the 787 Dreamliner in Africa, the Middle East and Europe.