Boeing and Ethiopian Airlines Sign Memorandum of Understanding for New 777-8 Freighter

Rhea-AI Summary

Boeing (NYSE: BA) has signed a Memorandum of Understanding (MoU) with Ethiopian Airlines for the potential purchase of five 777-8 Freighters. This move aims to address the growing global cargo demand from Ethiopian Airlines' hub in Addis Ababa. The 777-8 Freighter boasts advanced technology and a 30% improvement in fuel efficiency compared to current models. Boeing has already secured 34 firm orders for the 777-8 Freighter since its launch in January. Ethiopian Airlines, a key player in Africa's cargo market, operates a diverse fleet, including nine Boeing freighters.

Positive

• Ethiopian Airlines intends to purchase five 777-8 Freighters, enhancing its cargo capacity.
• The 777-8 Freighter offers a 30% improvement in fuel efficiency and lower operating costs.
• Boeing has already received 34 firm orders for the new 777-8 Freighter since its January launch.

Negative

• None.

SEATTLE, March 4, 2022 /PRNewswire/ -- Boeing (NYSE: BA) and its longstanding customer Ethiopian Airlines today announced the signing of a Memorandum of Understanding (MoU) with the intent to purchase five 777-8 Freighters, the industry's newest, most capable and most fuel-efficient twin-engine freighter.

The MoU to order the 777-8 Freighter will enable Ethiopian Airlines to meet expanding global cargo demand from its hub in Addis Ababa and position the carrier for long-term sustainable growth.

"Consistent with our history of aviation technology leadership in Africa, we are pleased to sign this MoU with our longstanding partner Boeing, which will make us join select group of launch customer airlines for the fleet. In our vision 2035, we are planning to expand our Cargo and Logistics business to be one of the largest global multimodal logistics provider in all continents. To this effect we are increasing our dedicated freighter fleet with the latest technology, fuel efficient and environment-friendly airplanes of the 21st century. We have also started the construction of the largest E-commerce Hub Terminal in Africa," said Ethiopian Airlines' Group CEO Tewolde Gebremariam. "The new 777-8 Freighters will be instrumental in this long journey of growth agenda. Today, our air cargo services cover more than 120 international destinations around the world with both belly-hold capacity and dedicated freighter services." 

Boeing launched the new 777-8 Freighter in January and has already booked 34 firm orders for the model, which features the advanced technology from the new 777X family and proven performance of the market-leading 777 Freighter. With payload capacity nearly identical to the 747-400 Freighter and a 30% improvement in fuel efficiency, emissions and operating costs, the 777-8 Freighter will enable a more sustainable and profitable business for operators.

"Ethiopian Airlines has been at the forefront of Africa's cargo market for decades, growing its fleet of Boeing freighters and connecting the continent to the flow of global commerce," said Ihssane Mounir, senior vice president of Commercial Sales and Marketing. "The intent to purchase the new 777-8 Freighter further underscores the value of our latest airplane and ensures Ethiopian will remain a key player in global cargo, providing it with increased capacity, flexibility and efficiency for the future."

Ethiopian Airlines currently operates nine 777 Freighters, connecting Africa with more than 40 cargo centers throughout Asia, Europe, the Middle East and Americas. The carrier's fleet also includes three 737-800 Boeing Converted Freighters and a combined commercial fleet of more than 80 Boeing jets including 737s, 767s, 787s and 777s.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Learn more at www.boeing.com.

Contact
Nadine Fanous
Boeing Commercial Airplanes
nadine.fanous@boeing.com
+971 4-213-4700 (Dubai)

Jessica Kowal
Boeing Media Relations
jessica.m.kowal@boeing.com
+1 206-660-6849 (Seattle)

View original content to download multimedia:https://www.prnewswire.com/news-releases/boeing-and-ethiopian-airlines-sign-memorandum-of-understanding-for-new-777-8-freighter-301496148.html

SOURCE Boeing

FAQ

What is the purpose of the MoU signed between Boeing and Ethiopian Airlines?

The MoU intends for Ethiopian Airlines to purchase five 777-8 Freighters to meet global cargo demand.

When was the MoU between Boeing and Ethiopian Airlines signed?

The MoU was signed on March 4, 2022.

What are the benefits of the 777-8 Freighter for Ethiopian Airlines?

The 777-8 Freighter provides enhanced cargo capacity, improved fuel efficiency, and reduced operating costs.

How many 777-8 Freighters has Boeing received orders for since launching the model?

Boeing has secured 34 firm orders for the 777-8 Freighter since its January launch.

Where is Ethiopian Airlines' hub located?

Ethiopian Airlines operates its hub in Addis Ababa.