Ethiopian Airlines gets €50m loan for air cargo terminal
02 / 03 / 2015
ETHIOPIAN Airlines has signed a €50 million loan agreement with the French Development Agency (AFD) to erect a new air cargo terminal at Addis Ababa.
“Infrastructure development is one of the four pillars of our fast, profitable and sustainable growth strategic roadmap: Ethiopian Cargo Vision 2025,” reveals Tewolde Gebremariam, chief executive of the airline.
“This loan from AFD will enable us to build our new cargo terminal, which will be constructed in two phases and will have the capacity to handle 1.2 million tonnes annually, making it one of the largest in the world,” he enthuses.
The new facility is expected to support the country’s fast-growing perishables exports including flowers, fruits, vegetables and meat.
As part of its roadmap, the carrier plans to operate 18 dedicated freighters serving 37 international cargo destinations by 2025.
Christian Yoka, AFD’s regional director for Ethiopia, Sudan, south Sudan, Somalia and Eritrea, says the credit agreement shows a commitment to further support Ethiopian Airlines in its growth plans. “It follows the one we entered into for the expansion and upgrading of the airline’s multinational aviation training centre, which is nearly complete [and is] partially in operation.”
Ethiopian Cargo currently operates dedicated freighter services to 26 cargo destinations in Africa, the Middle East, Asia and Europe.
It has a fleet of six freighters including B777-200Fs.
