Ethopian Airlines has signed a memorandum of understanding with ICBC Financial Leasing in which th lessor will provide financial support for the carrier's fleet expansion plans.
The agreement will include a variety of aircraft, including Boeing 737s and 787s, financed in the form of finance leases, sale and leasebacks, commercial loans or operating leases.
The MOU is one of the largest financial cooperation in the aviation industry between the two countries, says the carrier.
“We are pleased to have ICBC Leasing, a leading global leasing company, as a strategic partner.” says chief executive officer of Ethiopian Airlines, Tewolde Gebremariam. “The cooperation with ICBC Leasing and its parent company ICBC Bank, the largest commercial bank in the world, will support our Vision 2025 fast, profitable and sustainable growth strategy. We look forward to a long-term and mutually beneficial partnership with ICBC.”