AerCap Signs Lease Agreements with Ethiopian for Two 777-300ERSF

‍DUBLIN — AerCap Holdings N.V. (AER) has signed lease agreements with Ethiopian Airlines (ET) for two converted Boeing 777-300ERSF freighters, marking the first deployment of the type in Africa. Deliveries are scheduled for the second quarter of 2028, as Ethiopian expands its cargo capacity to meet rising global freight demand.

The agreement strengthens the long-standing partnership between the two companies while positioning Ethiopian Airlines to capitalize on sustained growth in air cargo across Africa and international markets. With larger payload capabilities and improved operating economics, the aircraft will play a key role in scaling the airline’s logistics network.

First 777-300ERSF freighters in Africa

The 777-300ERSF, often referred to as “The Big Twin,” is a converted version of the passenger Boeing 777-300ER, designed to maximize cargo payload and efficiency on long-haul routes. Compared to smaller twin-engine freighters, it offers roughly 25% more capacity, making it well-suited for high-demand intercontinental operations.

AerCap CEO Aengus Kelly said the agreement reflects confidence in both the aircraft platform and Ethiopian Airlines’ cargo strategy, noting that the added capacity and efficiency will support continued expansion. The deal also underscores AerCap’s growing presence in the freighter leasing segment as airlines increasingly turn to converted widebody aircraft.

Supporting Ethiopian’s cargo growth strategy

Ethiopian Airlines CEO Mesfin Tasew said the introduction of the 777-300ERSF will significantly enhance the airline’s cargo capabilities while supporting trade flows across Africa and beyond. The carrier has steadily expanded its cargo division in recent years, investing in modern aircraft to meet increasing demand for air freight.

The new freighters will complement Ethiopian’s existing widebody fleet and strengthen its position as a leading cargo operator on the continent. A member of Star Alliance, the airline serves more than 160 passenger and cargo destinations across five continents.

Long-term fleet and market impact

For AerCap, the transaction highlights continued demand for efficient, high-capacity freighters as global supply chains evolve. The company, which serves around 300 customers worldwide, maintains one of the industry’s largest and most diverse leasing portfolios.

With entry into service expected in 2028, the aircraft will mark a significant step forward for Africa’s air cargo infrastructure. As demand for long-haul freight capacity grows, the addition of the 777-300ERSF positions Ethiopian Airlines to play a larger role in connecting global trade markets.