Boeing, Ethiopian Airlines to manufacture parts in $15 million
Ethiopian Airlines, Africa’s largest state-owned carrier, is set to initiate an aircraft parts manufacturing endeavor in collaboration with Boeing (BA.N), marking an initial investment of $15 million. This alliance also encompasses the local state Industrial Parks Development Corporation, as reported by the Ethiopian Investment Commission on the platform formerly known as Twitter, now known as “X.”
The joint venture’s scope will encompass the creation of “aerospace parts, including aircraft thermo-acoustic insulation blankets, electrical wire harnesses, and other components,” according to the commission. Over 300 employment opportunities are anticipated to arise for Ethiopians through this investment project.
Details regarding the commencement of production have not been disclosed by the commission, while Boeing has yet to issue an immediate response.
In light of the Ukrainian conflict affecting the supply of crucial Russian titanium—a significant material in global aviation—other African carriers like Kenya Airways (KQNA.NR) have experienced flight disruptions due to parts scarcity. However, it remains uncertain whether Ethiopian Airlines has encountered comparable challenges.
Having a fleet of 140 aircraft, Ethiopian Airlines announced a 20% increase in earnings, reaching $6.1 billion, during its latest financial year in June.
