The U.S. Senate passed a bill yesterday to extend the charter of the U.S. Ex-Im Bank for another three years and raise its debt ceiling from $100 billion to $140 billion, at least temporarily issuing a reprieve to Boeing and other U.S. aerospace companies that depend on government-backed loan guarantees to sell their products to foreign customers unable to access pri
One has to wonder what all the conservative pundits who decry the Obama Administration’s supposed anti-business bias think about the President’s recent visit to Boeing in Everett, Wash., and his pledge to in effect use the ExIm Bank to support domestic sales of 737s. In the realm of civil aircraft
President Barack Obama’s February 17 speech at the Boeing plant in Everett, Wash., resonated with those assembled for a number of reasons, but to Boeing Commercial Airplanes, the most encouraging words from the Administration came with some advance briefing material distributed before the event.
The U.S. government’s main export finance agency is looking to be more active in supporting business aircraft transactions. “The ExIm Bank is often called The Bank of Boeing, but I want to see it called The Bank of Wichita,” said Bob Morin, vice president of the transportation division with the Export-Import Bank of the U.S.
The U.S. Exim Bank has approved a long-term loan guarantee to support the sale of three Gulfstream G350 business jets to Saudi Arabian executive air transport provider National Air Services. Gulfstream signed a letter of intent in May for the aircraft, which the Exim Bank accord finalizes. The transaction is structured as an asset-based financing arrangement with the G350s serving as collateral. Arab Banking Corp.