UKEF backs first Airbus A350-1000 delivery to African carrier
The UK’s export credit agency has supported the delivery of the fuel-efficient aircraft to Ethiopian Airlines.
An Airbus 350-1000 on the tarmac delivered to Ethiopian Airlines.
Today, Ethiopian Airlines has received delivery of its first next generation Airbus A350-1000 aircraft – part manufactured by UK businesses – in a deal supported by UK Export Finance (UKEF).
UKEF, in partnership with Bpifrance and Euler Hermes as reinsurers, provided a guarantee to commercial banks extending a loan to Ethiopian Airlines. The deal will supply a total of 4 A350-1000 aircraft to the airline over the coming months.
The A350 is powered by the Trent XWB-97 – the world’s most efficient large aero-engine – which enables the aircraft to operate on 25% less fuel than its current closest competitor.
The wings and engines are the product of the UK aerospace industry, which supports over 120,000 highly-skilled jobs, most of these outside London and the south-east.
Airbus sites at Filton and Broughton design, test, and manufacture the wings for all Airbus’ A320, A330 and A350 commercial aircraft, directly supporting more than 8,000 full-time jobs and hundreds of apprenticeships. The Trent XWB is manufactured at the Rolls-Royce site in Derby.
Boris Sakrauski, HO Customer Finance, Airbus Commercial Aircraft, said:
Export credit agency financing continues to play an important role in providing a wide range of financing solutions to our customers. Airbus is very appreciative of the ongoing support UKEF has been able to provide to Ethiopian Airlines as it becomes the first African operator of the A350-1000.
Pat Cauthery, Divisional Head – Aerospace, Defence, Shipping, Space, UK Export Finance, said:
We are proud to have played a part in this historic moment as the first A350-1000 is delivered to an African airline. This deal encompasses UKEF’s vision to support UK exporters and jobs, drive local growth and create global impact.
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