Ethiopian Airlines has signed an agreement with Boeing to expand its cargo fleet as the carrier moves to increase freight capacity and implement its long-term Vision 2040 fleet strategy.
The agreement, signed at the Skylight Hotel in Addis Ababa by Ethiopian Airlines Group CEO Mesfin Tasew and Brad McMullen, Boeing’s Senior Vice President of Commercial Sales and Marketing, includes the purchase of eight Boeing 777-8 Freighters and two additional Boeing 777 Freighters.
The eight 777-8 Freighters are scheduled for delivery between 2033 and 2035, while the two additional 777 Freighters are expected to be delivered in 2027 and 2028. The airline will also acquire four Boeing 777 passenger aircraft converted into freighters.
Mesfin said the expansion is driven by the growing importance of cargo operations to the airline. “Our cargo operation contributes around 23 percent of our total revenue. It is very important for us, and as part of our Vision 2040 strategy, we are set to expand our cargo operation by adding more cargo airplanes,” Mesfin said.
He said the catalogue value of the agreement is approximately $5 billion, although the actual purchase price will remain confidential because aircraft manufacturers and airlines negotiate discounts from catalogue prices. “At catalogue price, the total value of this deal is around $5 billion, but the actual purchase price is always confidential and cannot be disclosed,” Mesfin said.
Mesfin said Ethiopian Airlines currently has 102 firm aircraft orders and expects to continue placing additional orders as it implements its long-term fleet plan. “Our Vision 2040 guides us to operate 360 aircraft by 2040.
We have a clear fleet plan that shows how many aircraft to operate each year between now and 2040,” he said.He added that the airline continuously reviews its future aircraft requirements based on its fleet plan and manufacturers’ order books. “The order book of manufacturers, we always continuously order airplanes to stay with our long-term fleet plan,” Mesfin added.
McMullen said the agreement further strengthens Boeing’s longstanding relationship with Ethiopian Airlines, which he described as an 80-year partnership. “We’re proud to continue our strong partnership as you grow your fleet and expand your network in Africa and beyond,” McMullen said.
McMullen said the new aircraft combines the capabilities of the existing 777 Freighter with newer technologies, including a carbon-fibre composite wing, designed to improve efficiency and reliability. “The 777-8 Freighter retains many of the 777 Freighter’s key features that support efficient operations, high utilization, and incredible reliability,” he said.
He also highlighted Ethiopian Airlines’ existing cargo operations, noting that one of its 777 Freighters was the most-utilized aircraft in Boeing’s global fleet in the previous year.
The partnership also extends beyond aircraft procurement to industrial development, aviation training, STEM education and leadership development, according to Boeing.
Ethiopian Airlines said cargo currently accounts for about 23 percent of its total revenue, making the expansion of its freighter fleet a key component of its long-term growth strategy.