Aircraft Orders & Deliveries
Ethiopian Airlines Firmly Orders Six Boeing 787-9 Dreamliners
Ethiopian Airlines converts options to firm orders for six Boeing 787-9 Dreamliners, supporting fleet growth and cargo expansion under Vision 2035.
This article is based on an official press release from Boeing and Ethiopian Airlines.
On April 20, 2026, Boeing and Ethiopian Airlines officially announced the carrier’s purchase of six additional 787-9 Dreamliner aircraft. According to the joint press release, this transaction converts existing options into firm Orders, exercising commitments originally established during the airline’s historic 2023 purchasing agreement.
The acquisition is designed to bolster Ethiopian Airlines‘ intercontinental network out of its Addis Ababa hub. Company officials noted that the new widebody jets will also provide crucial cargo capacity to meet rising demand for long-haul travel and freight transport across Europe, Asia, and North America.
“Converting the options of six Boeing 787-9 Dreamliner airplanes into a firm order is truly a proud moment for us,” stated Ethiopian Airlines Group CEO Mesfin Tasew in the press release.
Expanding the Dreamliner Fleet
The 2023 Landmark Order Context
The foundation for this latest acquisition was laid at the November 2023 Dubai Airshow. Industry research notes that Ethiopian Airlines signed an agreement for up to 67 Boeing jets at the event, marking the largest-ever Boeing purchase by an African carrier. The original deal included firm orders for 11 787 Dreamliners and 20 737 MAX airplanes, alongside options for 15 and 21 additional jets, respectively. This April 2026 announcement represents the formal exercising of six of those 15 Dreamliner options.
Ethiopian Airlines already operates the largest Boeing 787 fleet on the African continent. Prior to 2026 Deliveries, industry data showed the airline operating 30 Dreamliners, comprising 20 787-8s and 10 787-9s. Boeing Vice President of Commercial Sales and Marketing for Africa, Anbessie Yitbarek, highlighted the ongoing Partnerships in the official release.
“We’re proud that Ethiopian Airlines continues to look to the 787 Dreamliner to serve as the backbone of their fleet as they grow and modernize their operations,” Yitbarek said.
Strategic Growth Under “Vision 2035”
Passenger and Cargo Synergies
The decision to firm up these options aligns directly with Ethiopian Airlines’ “Vision 2035” strategic roadmap. Having achieved its previous 15-year goals ahead of schedule, the carrier is now targeting aggressive expansion. According to industry background reports, the airline aims to nearly double its fleet to 271 aircraft and expand its network to over 200 international destinations by 2035. Financial and operational targets include carrying 65 million passengers annually, transporting 3 million tons of Cargo-Aircraft, and generating $25 billion in annual revenue.
The Boeing 787-9 is uniquely positioned to support these dual passenger and freight ambitions. The press release emphasizes the aircraft’s “belly cargo” capabilities for high-demand trade lanes. Research indicates a standard 787-9 can carry approximately 16,000 kilograms of cargo while accommodating up to 315 passengers in Ethiopian’s typical two-class configuration. Furthermore, the 787-9 reduces fuel use and emissions by 25 percent compared to older generation aircraft, supporting the airline’s sustainability metrics.
Navigating Industry Headwinds
AirPro News analysis
We view Ethiopian Airlines’ move to convert these options into firm orders as a highly strategic maneuver in the current aerospace climate. The global aviation industry is currently grappling with severe supply chain constraints, engine shortages, and maintenance, repair, and overhaul (MRO) backlogs.
CEO Mesfin Tasew has previously acknowledged that the airline has faced operational turbulence, including grounded aircraft awaiting engines and extended turnaround times. By locking in firm orders now, Ethiopian Airlines is aggressively securing its production slots on Boeing’s assembly line. Amidst widespread delivery delays and certification holdups across the sector, firming up existing options is a vital defensive measure to ensure the carrier’s “Vision 2035” fleet expansion remains on track. Furthermore, with Boeing executive Anbessie Yitbarek having previously served as Ethiopian Airlines’ Chief Operating Officer, the deep institutional ties between the two companies likely facilitate smoother procurement negotiations during these industry-wide bottlenecks.
Frequently Asked Questions
- What did Ethiopian Airlines order? The airline finalized the purchase of six Boeing 787-9 Dreamliners, converting options from a 2023 agreement into firm orders.
- Why is the airline expanding its fleet? The expansion is part of the “Vision 2035” roadmap, aiming to reach 271 aircraft, serve over 200 international destinations, and generate $25 billion in annual revenue.
- How does the 787-9 benefit the airline? It offers a 25 percent reduction in fuel use and emissions, alongside significant “belly cargo” capacity (approximately 16,000 kg) to support lucrative freight operations.
Aircraft Orders & Deliveries
Boeing and Icelease Agree on Up to Three 767-300BCF Aircraft
Icelease signs for up to three Boeing 767-300BCF aircraft, with conversions at ST Engineering Singapore starting Q1 2027.
The Boeing Company and aircraft lessor Icelease have finalized an agreement for up to three Boeing 767-300 Boeing Converted Freighter (BCF) aircraft, marking the leasing firm’s expansion into the medium widebody cargo market.
Announced in a press release on November 2, 2026, the transaction includes one firm order and options for two additional conversions. The aircraft will join the managed cargo portfolio of IAT Leasing, a Dublin-based sister company to Icelease.
Conversion timeline and operational details
The formal signing ceremony for the agreement took place on October 22, 2026, during the Cargo Facts Symposium. The physical conversion work will be executed at ST Engineering’s airframe maintenance, repair, and overhaul (MRO) facilities located in Singapore.
Induction of the first Boeing 767-300 aircraft for conversion is scheduled for the first quarter of 2027. Delivery of the completed Boeing 767-300BCF to Icelease and IAT Leasing is expected to follow in the second quarter of 2027. The Boeing Converted Freighter programs are managed by The Boeing Company’s Global Services division.
Lindsey Douglas, Vice President of Cabin, Modifications, Maintenance and Digital Services at The Boeing Company, stated that the agreement underlines the continued collaboration between the two companies to meet global cargo demand.
Sigthor Einarsson, Managing Partner at Icelease, noted the strategic importance of the deal for the lessor’s broader fleet strategy.
“This agreement with Boeing to convert up to three Boeing 767 aircraft marks an important milestone for both Icelease and its Dublin-based sister company IAT Leasing,” Einarsson said.
Icelease and IAT Leasing’s growing cargo portfolio
The Boeing 767-300BCF order builds upon an established relationship between the manufacturer and the lessor. Icelease, an aircraft leasing company with a 21-year history, specializes in aircraft acquisitions, leasing, operations, finance, and investor relations. The firm was originally formed as a spinoff from Icelandair in 2005.
On November 14, 2021, Icelease placed an order for 11 Boeing 737-800 Boeing Converted Freighter (737-800BCF) aircraft during the Dubai Airshow. That order established Icelease as the launch customer for a new conversion line at Boeing’s London Gatwick MRO facility.
The newly ordered widebody freighters will be managed by IAT Leasing. Incorporated in late 2023, IAT Leasing is owned by four equity partners. The Dublin-based entity has rapidly built a portfolio of approximately 40 narrowbody and widebody passenger and Cargo aircraft, which are leased to operators globally. The company’s current managed cargo portfolio already includes seven Boeing 737-800BCF aircraft.
“The history between Icelease and Boeing dates over 20 years and includes a multitude of new aircraft deliveries as well as cargo conversions,” Einarsson said. “The Boeing 767-300BCF will join the growing managed cargo aircraft portfolio of IAT Leasing, which already includes seven Boeing 737-800BCF and other freighters leased to various customers.”
Widebody freighter market outlook
The Boeing 767-300BCF is positioned to serve regional and long-haul cargo networks as a highly efficient medium widebody converted freighter. The aircraft offers a payload capacity of 57 tonnes and a maximum range of 3,300 nautical miles.
The Icelease order aligns with broader industry forecasts regarding long-term air cargo growth. On October 28, 2026, The Boeing Company released projections indicating that the global freighter fleet will exceed 4,000 airplanes by 2045. The manufacturer anticipates that air cargo traffic will double over the same period, providing a sustained demand environment for passenger-to-freighter conversion programs across both narrowbody and widebody platforms.
AirPro News analysis
We view Icelease’s transition from narrowbody to medium widebody conversions as a natural progression for lessors seeking to capture higher-yield cargo segments. While the Boeing 737-800BCF serves domestic and regional express networks effectively, the Boeing 767-300BCF provides the volume and range necessary for intercontinental e-commerce flows. By securing conversion slots at ST Engineering for 2027, Icelease and IAT Leasing are positioning their portfolio to absorb capacity demands as older widebody freighters face retirement toward the end of the decade. The decision to allocate these assets to the recently formed IAT Leasing also highlights the robust investor appetite for dedicated freighter leasing vehicles.
Aircraft Orders & Deliveries
AerCap Leases Two Boeing 777-300ERSF to Turkish Airlines
AerCap finalizes lease of two Boeing 777-300ERSF freighters to Turkish Airlines, with deliveries scheduled for 2027.
AerCap Holdings N.V. has finalized lease agreements with Turkish Airlines for two Boeing 777-300ERSF converted freighters, with deliveries scheduled between March and September 2027.
Announced on October 29, 2026, the transaction expands the Turkish flag carrier’s dedicated cargo capacity while utilizing Etihad Engineering’s maintenance, repair, and overhaul (MRO) facility in Abu Dhabi for the passenger-to-freighter (P2F) modifications. In a press release detailing the agreement, the Dublin-based aviation lessor emphasized the strategic alignment between the aircraft’s capabilities and the airline’s expanding freight network.
Expanding Turkish Airlines’ cargo operations
The agreement builds on an existing relationship between AerCap and Turkish Airlines, which operates a large international network requiring substantial dedicated cargo lift. The addition of the two widebody freighters is intended to support the carrier’s volume requirements on high-demand international routes.
Peter Anderson, Chief Commercial Officer at AerCap, stated that the aircraft will provide the airline with additional cargo capacity combined with the performance capabilities specific to the 777-300ERSF platform. Financial terms of the lease agreements, including the exact lease duration and the specific aircraft serial numbers, were not disclosed in the announcement.
The Big Twin conversion program
The Boeing 777-300ERSF, marketed as “The Big Twin,” is a P2F conversion program developed through a joint venture between AerCap and Israel Aerospace Industries (IAI). It represents the first program designed to convert the Boeing 777-300ER into a dedicated freighter configuration.
According to AerCap’s cargo division, the 777-300ERSF offers 25 percent more cargo volume than the factory-built Boeing 777-200LRF. This increased capacity positions the converted twin-engine aircraft as a cost-effective replacement for aging four-engine Boeing 747 freighters currently operating in the global fleet.
AerCap delivered the first 777-300ERSF to launch customer Kalitta Air in September 2025. Since that initial delivery, the lessor has handed over aircraft to Fly Meta and secured lease agreements with other major operators, including Ethiopian Airlines and China Southern Group.
Regional conversion strategy in Abu Dhabi
The physical conversion of the two aircraft destined for Turkish Airlines will be executed at the Etihad Engineering MRO hub in Abu Dhabi, United Arab Emirates. This facility serves as a dedicated regional conversion center for the 777-300ERSF program.
Anderson highlighted the strategic importance of the location, noting that the Abu Dhabi facility provides a regional platform capability that enables aircraft to be converted in the Middle East prior to delivery. This localized approach is designed to efficiently serve customers across the Europe, Middle East, and Africa (EMEA) market.
“The dedicated 777-300ERSF conversion facility at Etihad Engineering’s MRO hub in Abu Dhabi provides an important regional platform capability, enabling the aircraft to be converted in the Middle East ahead of delivery to Turkish Airlines,” Anderson said.
AerCap’s broader market position
The Turkish Airlines agreement follows a period of strong financial performance for AerCap. On October 28, 2026, the company reported its third-quarter financial results, citing record adjusted earnings per share and raising its full-year 2026 guidance amid high lease rates and sustained demand for aviation assets.
As of September 30, 2026, AerCap’s total portfolio included 1,537 owned and managed aircraft, alongside approximately 1,300 engines and over 300 helicopters. The company’s dedicated cargo division manages a fleet of approximately 110 owned, managed, and on-order freighters, having completed more than 160 passenger-to-freighter conversions to date.
AirPro News analysis
We view the placement of 777-300ERSF aircraft with a major network carrier like Turkish Airlines as a strong validation of the Big Twin program’s economic proposition. As operators look to phase out older Boeing 747 freighters, the 25 percent volume advantage over the 777-200LRF makes the converted 300ER an attractive middle ground between factory-built twin-engine freighters and legacy four-engine platforms. Utilizing the Etihad Engineering facility in Abu Dhabi for a European customer also demonstrates the logistical efficiency of AerCap’s decentralized conversion strategy, reducing ferry times and regional friction for EMEA operators.
Aircraft Orders & Deliveries
CDB Aviation Leases Additional Boeing 737-800 to Neos
CDB Aviation will deliver a Boeing 737-800 to Italian leisure carrier Neos in November 2026, expanding a partnership begun in 2021.
Irish aircraft lessor CDB Aviation will expand its existing relationship with Italian leisure carrier Neos S.p.A. by leasing the airline one additional Boeing 737-800 narrowbody aircraft. The aircraft is scheduled for delivery in November 2026 and will support the carrier’s intra-European and intercontinental route networks.
The agreement, announced in an October 28, 2026, press release, builds upon a leasing partnership established between the two companies in 2021. The transaction highlights continued demand for current-generation narrowbody assets to sustain short- and medium-haul leisure operations.
Expanding the Neos narrowbody fleet
Neos, a wholly owned subsidiary of Alpitour S.p.A. based at Milan Malpensa Airport (MXP), operates an all-Boeing fleet. The airline currently utilizes 18 aircraft, comprising the Boeing 737-800, Boeing 737 MAX 8, and widebody Boeing 787-9 Dreamliner.
The Boeing 737-800 serves as a core asset for the airline’s short- to medium-haul leisure routes. Neos deploys these narrowbody aircraft on intra-European and select intercontinental flights. This narrowbody capacity complements its widebody Boeing 787-9 Dreamliner fleet, which is dedicated to long-haul operations across the carrier’s 85 global destinations in Europe, Africa, Asia, the Middle East, and the Americas.
Marco Brusa, Chief Operating Officer of Neos, stated that the planned addition reflects confidence in the lessor as a trusted partner.
“We are pleased to further strengthen our partnership with CDB Aviation with the planned addition of this Boeing 737-800 to our fleet,” Brusa said. “This agreement builds on our established relationship and reflects our confidence in CDB Aviation as a trusted partner. We look forward to welcoming the aircraft and continuing our successful collaboration.”
A growing lessor-operator partnership
The commercial relationship between CDB Aviation and Neos began in 2021 with an initial agreement covering two Boeing 737-800s. CDB Aviation officially announced the delivery of those two aircraft on February 7, 2023. Those initial airframes were configured with 186 single-class seats to support the carrier’s network.
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd., operates globally from its Dublin headquarters. As of early 2025, the lessor reported a fleet of 521 owned and committed assets, with aircraft placed at 85 airlines across 40 countries.
Gavan Daly, Head of Commercial EMEA at CDB Aviation, noted the company’s satisfaction with the expanded agreement.
“We are delighted to deepen our partnership with Neos through the agreement to lease this additional 737-800 from CDB Aviation’s portfolio,” Daly said.
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