Saturday, 02 February 2008
The national carrier Ethiopian Airlines has sold a Boeing 737 aircraft to a company called Star Equatorial Airline based in Equatorial Guinea, it has been learnt.
Ethiopian and Star Equatorial signed the letter of intent on November 16,2007. In a written response to The Reporter, Ethiopian said the aircraft has been in service since its delivery in July 1988 until October 2007. Ethiopian declined to disclose the selling price of the aircraft. “The selling price of the aircraft is part of the contractual deal between the buyer and the seller. There is a contractual non-disclosure pact which both parties have signed and which binds them legally not to disclose it [the price]," it said.
The aircraft is currently undergoing maintenance at the hangar of Ethiopian. The airline revealed that the cost of the maintenance depended on the work package and man-hour it consumes. It added that the total maintenance cost can only be determined once the job was completed.
Ethiopian will deliver the aircraft upon completion of the maintenance work and after the definitive agreement is finalized by both parties. As part of the ongoing fleet modernization program launched in 2003, Ethiopian has been renewing its fleet. Previously, it sold a B767-200 aircraft to the US based company Aviation Capital Leasing (ACL). The aircraft is currently under maintenance and will be delivered after completion of the maintenance work.
Ethiopian has about 20 jet aircrafts. In February 2005, the airline placed firm orders for the purchase of ten B787 Dreamliner aircrafts with a total list price of 1.3 billion dollars.
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