In return, Ethiopian Airlines will provide MRO support to Volvo Aero Services on select engines and material.

"This is an excellent example of value through strategic sourcing partnerships. We are reducing capital requirements, while achieving optimum market value for our MRO customers,” says Girma Wake, Chief Executive Officer, Ethiopian Airlines.

Claes Malmros, President and CEO of Volvo Aero Services adds, “I am very excited at the future potential of this new partnership, as we are establishing value to both of our organizations and look forward to supporting Ethiopian Airlines on additional platforms.”

About Ethiopian Airlines
Ethiopian Airlines, one of the largest and fastest growing airlines in Africa made its maiden flight to Cairo in 1946. With the recent addition of new flight services to Ouagadougou, Lubumbashi, and Abuja Ethiopian provides seamless services to 33 cities in Africa and to a total of 53 international destinations spread around the globe. Ethiopian will be the first carrier to operate the 787 Dreamliner in Africa, the Middle East and Europe.

About Volvo Aero Services Corp.
Volvo Aero Services Corp., a subsidiary of Volvo Aero Corporation, is a leading provider of aftermarket services in the aviation industry. As the wholly-owned subsidiary of AB Volvo, Volvo Aero Corporation had 2007 revenues of $1.2 billion and employs over 3,200 people worldwide. Volvo Aero Services Corp. has a wide range of services based on its competence in asset management, logistics and leasing of aircraft engines as well as engine and aircraft components. The company is also the exclusive distributor of select material for The Boeing Company, Hamilton Sundstrand and Honeywell.