GECAS Leases Ethiopian Airlines First Two AEI-Converted 737 Freighters
JAN 10, 2018 - 6:21 am
Ethiopian Cargo and Logistics Services, a division of the Ethiopian Airlines Group, committed to lease the first two Boeing 737-800 freighters (737-800SF) converted by Aeronautical Engineers from GECAS, with the first delivery expected in June of 2018, followed by a second in January of 2019.
“We are excited to take delivery of these first-ever AEI-converted 737-800SFs,” said Tewolde Gebremariam, Ethiopian Airlines Group CEO. “The aircraft will be a great complement to our existing fleet of B777 and B757 freighters. In line with our Vision 2025 Ethiopian Cargo and Logistics strategic roadmap, we are expanding our cargo fleet and network to support trade within Africa and with the rest of the world by facilitating the export of perishables and the import of high value goods into the continent.”
“We have been working with AEI on this program since 2015 and look forward to delivering the first AEI converted 737-800SF to Ethiopian Airlines. The airline is joining a growing number of combination carriers planning to operate this aircraft either for replacement of aging freighters or for growth,” said Richard Greener, GECAS SVP and manager of the Cargo Aircraft Group.
Ethiopian Cargo and Logistics provides airport–to–airport services across a network of more than 91 destinations on both freighter and belly hold services (including both direct service and arranged connection flights). It is also the largest network cargo operator in Africa. With six 777 and two 757 Freighters serving 39 cargo destinations in Africa, the Middle East, Asia, the Americas and Europe, Ethiopian’s art cargo terminal delivers an annual capacity of one million tons with services that range from general cargo to special cargo.
The AEI converted freighter accommodates 11 full height containers plus one AEP/AEH, a main deck payload of up to 52,000 pounds (23,587 kilograms) and has AEI’s hydraulically-operated cargo door.
Nearly two years ago, the COVID-19 pandemic forced the equipment leasing industry to continue to provide essential finance solutions to business owners while following necessary safety protocols to protect the health of employees, partners and customers. Those protocols involved limiting... read more
Although 2021 brought some hope, the equipment finance industry continued to grapple with the effects of the COVID-19 pandemic, including labor shortages, supply chain disruption and more. To dig into how these developments have affected the bank-owned sector of the... read more