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Ethiopian secures foreign funding for new aircraft
Ethiopian Airlines (Ethiopian) last week secured finance from Export Development Canada (EDC) - Canada's export credit agency - for the purchase of eight aircraft that will operate on local routes.
Ethiopian awarded the tender it floated for the procurement of the aircraft to the Canadian Bombardier Aerospace and signed an agreement with them on November 14, 2008, for the purchase of eight Q400 NextGen turboprop airliners.
The fund for the purchase of these aircraft was secured last Friday, November 21, 2008, after negotiations throughout the week, sources at the airline told Fortune.
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