Victor Shalton, Aircraft Orders and Deliveries
Ethiopian Receives New Dash 8-400
Ethiopian Airlines signed an eight-year operating lease arrangement with TrueNoord, a regional specialist aircraft lessor, for a De Havilland Canada Dash 8-441 (MSN 4621).
TrueNoords' first African lease program is this one. According to the lessor the financing for the aircraft came from TrueNoords revolving storage facility. It was underwritten by Socit Gnrale, Citibank and Royal Bank of Canada.
Pillsbury was TrueNoord's legal counsel on the acquisition, with Milbank providing advice on financing and Clifford Chance representing the lenders.
The new Dash 8-400 was manufactured by De Havilland Aircraft of Canada Limited (De Havilland Canada) and will be integrated into the fleet of Ethiopians.
Sibert van Leeuwen is TrueNoords' sales manager for Africa and Middle East, India and Russia. He said that Ethiopian Airlines has a strong portfolio and a strong reputation in service and innovation. TrueNoord is proud to provide regional connectivity for the flexible and affordable Dash 8-400.
The aircraft, which is based in Addis Ababa Bole international airport, allows them to increase domestic services and expand the range of routes through neighbouring East African countries. Van Leeuwen said that we are proud to join the ranks of lessors in supporting an airline that is driving the necessary airline consolidation in Africa, and the liberalisation of the regional air transport market.
Tewolde GebreMariam is the Group CEO of Ethiopian Airlines. He stated: We are expanding with an essential remit to examine new technologies along with environmental issues and economic solutions. Ethiopian is determined to ensure a sustainable future in regional aviation. We also collaborate with industry partners like TrueNoord to meet new needs. We are expanding our regional and domestic network, and adding the new aircraft will improve our operations.
Philippe Poutissou (Vice President, Sales and Marketing at De Havilland Canada) commented: We are delighted to see our Dash 8400 aircraft join TrueNoords expanding portfolio and are confident it will be an asset in the rapidly growing regional aircraft sector of leasing.
TrueNoord's lease agreement with Ethiopian Airlines is also commendable. Poutissou stated that Ethiopian Airlines, a major operator of this type, continues to show that the Dash 8400 aircraft provides the operational flexibility and exceptional performance capability to support its operations. We wish the airline and its strategic partners continued success.
TrueNoords chief executive Anne-Bart Tieleman acknowledged the potential for regional aircraft to be leased in Africa. However, she also stated that air transport is still a key component of Africa's development and that we are excited about Africa's potential for air travel. Travellers often have to travel long distances or via other continents in order to reach neighboring African countries due to the lack of services.
Pre-COVID-19, there were only 500 scheduled flights between African cities and 800 between African airports around the globe. We are trying to find solutions to the crisis and help our lessors worldwide. It is evident that if we can collaborate with respected operators like Ethiopian Airlines to allow them to offer commercially viable direct flights between African destinations via higher load factors, it will be a strong move in the right direction.
Ethiopian Dash 8400 aircraft have carried more than 12,000,000 passengers since their introduction in 2010. The airlines' strategic partnerships with ASKY Airlines (Malawi Airlines, Malawi Airlines, Ethiopian Moambique Airlines, and Tchadia Airlines enhance the network.
Through its Dash 8 flight simulators, and as an Authorized Services Facility, the East African carrier plays a key role in supporting other Dash 8 operators in the region.
