Ethiopian agrees sale-and-leaseback for latest Dash 8-400s

Ethiopian Airlines has entered a sale-and-leaseback agreement for a pair of De Havilland Canada Dash 8-400 turboprops recently delivered to the carrier. The aircraft involved – bearing serial numbers 4626 and 4628 – were handed to the African operator in February. Ethiopian Airlines has agreed their sale and leaseback, covering an eight-year term, with regional lessor TrueNoord. Newly-appointed Ethiopian Airlines group chief Mesfin Tasew says the carrier is “committed to a sustainable future” for its regional operations. TrueNoord, he says, has shown an ability to provide “practical and timely lease options” to support the airline’s business model. The Dash 8-400, adds Tasew, is the “ideal aircraft” to serve the carrier’s domestic and regional network. De Havilland Canada vice-president for sales and marketing Philippe Poutissou says TrueNoord’s investment in the turboprops reinforces the manufacturer’s reputation for producing aircraft with “long-term value retention”. TrueNoord says a revolving warehouse facility – underwritten by Citibank, Societe Generale and Royal Bank of Canada – funded the Dash 8s.<br/>