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View Full Version : Ethiopian Airlines in $1,3 B deal ..


Gunship
6th Feb 2005, 07:31
From Yahoo .. State-owned Ethiopian Airlines said on Friday it signed an agreement with Boeing CO to acquire five Boeing 787 jetliners with an option for five more in a deal valued in total at $1.3 billion.

General Manager Girma Wako told a news conference the first two Dreamliner aircraft will arrive in Addis Ababa in 2008.

"Valued at $1.3 billion, the agreement involves five firm orders and purchase rights for five more, making it a huge investment and an unmistakable sign of the airline's commitment to be a leader in African aviation," Girma said.

Ethiopian Airlines operates an all-Boeing fleet of 737 and 767 aircraft and flies to regional and international routes in Asia, Europe and North America. Analysts say it is one of Africa's few strong carriers, along with Kenya Airways , Air Mauritius and SAA.

soups
6th Feb 2005, 08:13
they also have 757

fireitup
6th Feb 2005, 11:24
Does anyone have an idea how their balance sheet looks compared to another "once all-boeing, state-owned, leading african airline"?:}

Apologies found these figures at flyethiopian.com, a bit old though...

Highlights for the year ended June 2003.

FINANCIAL PERFORMANCE (ET BIRR)


2003

Operating Revenue :2,832,713,227

Operating Expenses :2,697,181,467

Operating Profit :135,531,760

Non-Operating Profit :141,123,338

Net Profit :276,655,098

1USD=ETB 8.7226 as of June 30, 2003

FINANCIAL PERFORMANCE (ET BIRR)



more figures here... (http://www.flyethiopian.com/new/corporate/performance.aspx)

A shade over $31 mil....it can be done?

Anyone with different info?