Calling it an issue that “really hurts,” Delta Air Lines CEO Richard Anderson used a keynote speech to the U.S. Chamber of Commerce in Washington, D.C., to explain why Delta opposes U.S. Export-Import Bank loan guarantees that help foreign carriers buy Boeing airplanes.
Export-Import Bank of the United States
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.
Shares in cash-strapped Indian carrier Kingfisher Airline fell by almost 18 percent on November 18 as company chairman Vijay Mallya worked to secure new short- and long-term funding amid reports of further routes being cut and flights cancelled. On November 17, Mallya confirmed that he is negotiating with an undisclosed high-net-worth individual in India with a view to injecting approximately $250 million into Kingfisher.
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.
A group of 24 airlines from the U.S. and Europe have allied to oppose export credit agency loan guarantees to foreign customers buying Boeing and Airbus airplanes. On its face, their argument seems logical: no longer do many of the airlines and lessors who get export credit agency support need government-backed loans.
Four new AW139s destined for Trinidad and Tobago are the latest in a series of U.S.-manufactured helicopters whose export loans are being backed by the U.S. Export-Import Bank. The Ex-Im reports guaranteeing through July more than $200 million in U.S. commercial helicopter export loans for aircraft destined for markets in the Americas and Asia.
The board of the U.S. Export-Import Bank (Ex-Im Bank) authorized a $500 million direct-loan facility to provide funds to assist Textron in financing exports from subsidiaries Cessna Aircraft and Bell Helicopter. The available capital will enable Textron to continue to provide financing to international customers that take delivery of new Cessna and Bell aircraft by December next year.
On Thursday, the board of the U.S. Export-Import Bank (Ex-Im Bank) authorized a $500 million direct-loan facility to provide the funds to assist Textron in financing exports from subsidiaries Cessna Aircraft and Bell Helicopter. The available capital will enable Textron to continue to provide financing to international customers that take delivery of new Cessna and Bell aircraft by December next year.
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