Russia’s Sukhoi Civil Aircraft has long claimed its Superjet 100 offers a level of technical sophistication that surpasses that of any Western regional jet on the market. Now, a new funding system state-controlled Vnesheconombank (VEB) devised with Sukhoi to support export sales of the Superjet 100 promises to place the Russian regional jet on equal footing with Western models in terms of financing cost as well, according to VEB deputy chairman Alexander Ivanov.
Export credit agency
As the global economy in general, and business aviation in particular, begins to stabilize, so the squeeze on aircraft financing is beginning to relax, albeit with an element of conservatism. That was the message from speakers at the 5th Business Aviation in Latin America summit held here at LABACE yesterday. A range of financial issues was covered during the summit, as well as other key issues such as managing flight clearance risk in developing nations and pilot shortages in Latin America.
Boeing’s recent assertion that the appetite of capital markets to fund airliner orders has increased comes as especially welcome news to manufacturers and their customers at a time when other sources of funding seem under pressure. Export credit, in particular, now comes generally at higher interest rates and with tougher equity requirements. At the same time, such government-backed capital has become a hostage to global politics, according to Kostya Zolotusky, managing director for capital markets development and leasing at Boeing Capital.
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
In at least a symbolic gesture to Delta Air Lines and the Air Line Pilots Association, a bill passed on May 9 by the U.S. House of Representatives to extend the charter of the country’s Ex-Im Bank calls for the U.S. Treasury Department to negotiate with other governments toward eliminating state-backed loan guarantees for exports, including widebody aircraft sales.
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.
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.
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.
A group of 24 airlines based in Europe and the U.S. yesterday issued a set of common principles they claim should underlie a new OEDC Sector Understanding on Export Credits of Civil Aircraft (ASU) to ensure a “level playing field” in the arena of export financing of Boeing and Airbus airplanes. The 24 airlines, which include 15 members of the U.S.
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