Ethiopian Leasing Two Boeing 777 for Five Years
Pressured by unexpected surge in passengers, particularly those flying to and from North America, Ethiopian Airlines has been forced to scout for additional aircrafts. Its management is under negotiations with Varig, a Brazilian Airline and member of Star Alliance, to acquire two Boeing 777 airplanes through a long-term lease.
Varig Airlines has been flying the skies of Brazil since 1927. It now has a fleet of 81 aircrafts, boasting Boeing 727, 737, 767 and 747 airplanes as well as DC-10 equipment, according to its website.
Although leasing aircraft is not a new practise both for airlines and constructors, it will be the first time Ethiopian enters an agreement for a period of five years, assuming the deal is concluded successfully. One of the airplanes is expected to arrive in a month, when one of the two aircrafts leased from World Airways for the summer gets returned, according to sources with the airline.
Airline officials say, Ethiopian is entering this negotiation due to a gush in passengers this year, especially during what is summer in the United States. The airline is fully booked for August with passengers to and from North America due to the higher number of economy class passengers coming to Ethiopia, for the Ethiopian New Year, said officials from the booking services of the airline.
The number of passengers is consistently growing. Ethiopian carried 1.77 million passengers from July 2005 to June 2006, an increase of 14pc from the previous year.
Kagnew Fisseha, Ethiopian’s chief of Public Relations Department, attributed the increasing number of passengers to the season.
“Summer is usually the peak season for airlines all over the world,” he told Fortune.