Thu, Oct 11, 2012
First Financing Of Boeing Aircraft For The Young Middle-Eastern Carrier
The Export-Import Bank of the United States (Ex-Im Bank) has authorized a $117.5 million loan guarantee supporting exports of Boeing 737-800 aircraft to flydubai, a low-cost airline owned by the government of Dubai. Ex-Im Bank is guaranteeing a 12-year loan from the Private Export Funding Corp. It is the Bank's first authorization supporting aircraft exports to flydubai.
"This financing is a first for Ex-Im Bank for this successful new carrier in the Middle East, and this export is a great opportunity for Boeing to expand its market reach in the United Arab Emirates. The aircraft financed supported hundreds of jobs at Boeing and its suppliers across the country," said Ex-Im Bank Chairman and President Fred. P. Hochberg.
"We believed that it was the right time, in flydubai's third year of operation, to diversify the sources of funding for our aircraft. We are delighted to have the support of Ex-Im Bank and the Private Export Funding Corp. as we continue to grow, and we look forward to developing our relationship with them in the future," said Ghaith Al Ghaith, CEO of flydubai.
In business since 2009, flydubai operates a route network of more than 45 destinations across the Middle East, North Africa, the Indian subcontinent, Asia, and Central and Eastern Europe. The airline is designated as a national carrier of the United Arab Emirates.
As If We Didn’t Have Enough to Do, Another Critical Challenge Demands Our Full Attention It has been a brutal few weeks… starting with the loss of our dear friend, Bob>[...]
Two Years After Tragedy, The Program Proves It Still Has The Right Stuff The newest SpaceShipTwo has flown free for the first time. According to the Virgin Galactic crew, "Our new >[...]
Proposal Runs Afoul Of Federal Authority Over The Nation’s Airspace... The Academy of Model Aeronautics (AMA) sent a letter to the Orlando City Council in opposition to a pro>[...]
"This represents culmination of many years of hard work and perseverance by the team here in the USA and back at base in Germany too, we’re literally over the moon.” So>[...]
The FAA Has Granted Type Certification To AutoGyro For Its Factory-Built Calidus Aircraft It seems we hear a lot about new FAA type certification of airliners and corporate jets, b>[...]