AerCap expands cargo leasing with Ethiopian Airlines freighter deal

AerCap, an Ireland-based aircraft leasing company operating in the global aviation sector, has signed lease agreements with Ethiopian Airlines for two Boeing 777-300ERSF converted freighters, according to a company statement.

The deal strengthens cargo fleet capacity and highlights growing demand for long-haul freighter aircraft across global trade routes.

The aircraft, known as the 777-300ERSF, will be the first of its type to operate in Africa, with deliveries scheduled for the second quarter of 2028. The model offers approximately 25% more capacity than smaller twin-engine long-haul freighters, improving payload efficiency for cargo operators.

The agreement deepens the relationship between AerCap and Ethiopian Airlines, one of Africa’s largest carriers. AerCap supplies leasing solutions to around 300 customers worldwide and maintains a broad portfolio across passenger and cargo aircraft types.

“We are delighted to deepen our long-standing partnership with Ethiopian Airlines… through this important transaction,” said Aengus Kelly, Chief Executive Officer of AerCap. “The 777-300ERSF delivers significant cost efficiencies and will position Ethiopian Airlines to further expand its growing cargo platform.”

Ethiopian Airlines Group operates more than 160 passenger and cargo destinations globally and has positioned cargo operations as a core part of its network strategy. The airline continues to invest in modern aircraft to support efficiency and capacity growth.

“These aircraft will significantly enhance our cargo capacity and efficiency, boosting trade in the region,” said Mesfin Tasew, Chief Executive Officer of Ethiopian Airlines Group. The airline expects the aircraft to support increasing demand for air freight across Africa and international markets.

The introduction of converted freighters reflects a broader industry trend toward maximising the value of existing widebody aircraft through conversion programmes. This approach allows lessors and operators to meet rising cargo demand without relying solely on new-build production.

Explore the full press release on how the deal reinforces AerCap’s role in the global leasing market and highlights the strategic importance of freighter capacity in supporting international trade flows.