Ethiopian Executes a Turnkey Contract Agreement for the Construction of its Second Cargo Terminal - 10 February, 2014

Ethiopian Airlines is pleased to announce the completion of a Turnkey contract Agreement for construction of its cargo terminal 2 and apron ,with Unitechnik Systems GmbH of Germany, and Varnero Construction on January 10, 2014. The total cost of the Cargo Terminal project is 107 million EURO.

The construction of Cargo Terminal 2 is expected to be completed within the next two years will have the capacity to accommodate, 600,000 tons of cargo per annum, with cargo apron parking capacity for five B747-800 aircraft at a time. It will also have cold storage capacity to accommodate about 300,000 tons of temperature controlled perishable cargo per annum. Completion of Cargo Terminal 2 will be immediately followed with the construction of Cargo Terminal 3 which will also have an annual capacity to accommodate 600,000 tons. The entire construction of the two terminals planned to be constructed in two phases will have a capacity to accommodate 1.2 million tons of cargo per annum with capacity of eight B747-800 aircraft that places the cargo terminal to be one of the largest in the world.

Tewolde GebreMariam, CEO, Ethiopian Airlines Group said, "In line with our vision 2025, this massive investment in construction of the two cargo terminals shows our unwavering commitment to support the Ethiopian fast growing export of agricultural products and high value imports to the continent, which are critically important for Economic development of many African countries. Including the existing cargo terminal 1, the combined annual capacity of the three terminals will be around 1.5 million tons of cargo which will make Ethiopian one of the largest air cargo operators in the world."

Ethiopian Cargo is the largest Cargo service provider in the continent. Currently, Ethiopian cargo has dedicated services to 26 cargo destinations in Africa, the Gulf, Middle East, Asia and Europe by using six dedicated cargo freighters. Ethiopian has recently inaugurated a second new state-of-the art perishable cargo Cold Storage Facility.

Ethiopian Cargo has presently transformed into an independent profit center of the Ethiopian Airlines Group. By 2025, Ethiopian Cargo plans to uplift 820,000 tons of cargo using 15 dedicated freighters.

Ethiopian cargo is an award winning Cargo service provider and has been ranked 43rd by revenue out of the top 50 global operators, in 2013.

About Ethiopian

Ethiopian Airlines (Ethiopian) is the fastest growing Airline in Africa. In its operations in the past close to seven decades, Ethiopian has become one of the continent’s leading carriers, unrivalled in efficiency and operational success.

Ethiopian commands the lion share of the pan-African passenger and cargo network operating the youngest and most modern fleet to more than 79 international destinations across five continents. Ethiopian fleet includes ultra-modern and environmentally friendly aircraft such as the Boeing 787, Boeing 777-300ER, Boeing 777-200LR, Boeing 777-200LR Freighter and Bombardier Q-400 with double cabin. In fact, Ethiopian is the first airline in Africa to own and operate these aircraft.

Ethiopian is currently implementing a 15-year strategic plan called Vision 2025 that will see it become the leading aviation group in Africa with seven business centers: Ethiopian Domestic and Regional Airline; Ethiopian International Passenger Airline; Ethiopian Cargo; Ethiopian MRO; Ethiopian Aviation Academy; Ethiopian In-flight Catering Services; and Ethiopian Ground Service. Ethiopian is a multi-award winning airline registering an average growth of 25% in the past seven years.