Ethiopia Airlines has won the Aviation 100 “Africa Lease Deal of the Year 2018” award of Airline Economics Magazine, Ethiopian Airlines Group reported.

The Airlines received the award during the Airline Economic Growth Frontiers Dubai 2018 conference gala dinner, it was indicated.

The Aviation 100 awards recognize the aviation’s most outstanding performance, innovative and successful finance and leasing deals closed in the last 12 months.

The winners of the award are decided by an Industry-wide survey, rigorous voting process and editorial consideration.

“We are happy to receive this award from Airline Economics. It’s for the first time that the Japanese financing system, JOLCO, financed an aircraft deal with an African airline. JOLCO availed financing for our A350 aircraft,” EAL Group CEO Tewolde Gebremariam commented on the award.

He added that “the deal shows the strong confidence of reputed global financiers in Ethiopian balance sheet and business plan.”

EAL has also received Middle East and Africa Airline of the Year award in 2017 by Airline Economics, it was learned.

Ethiopian is a multi-award winning carrier crowned with Four Star certification by SKYTRAX last year, Airline of the Year awards by AFRAA as well as multiple accolades for its outstanding passenger and cargo transport services.

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