Sun, Mar 24, 2013
Financing Will Support Export Of Boeing 737-900ERs For El Al
The Export-Import Bank of the United States (Ex-Im Bank) has authorized more than $190 million in financing to support the export of Boeing 737-900ER aircraft to El Al Israel Airlines, Ltd. (El Al). According to Boeing, this transaction will help the company create and sustain more than 1,300 American jobs.
"This transaction will help ensure that El Al has a modern and efficient fleet that can meet the growing demands of their customer base," said Ex-Im Bank Chairman Fred P. Hochberg. "Ex-Im has a long and productive history of working with El Al, dating back to 1960. This transaction demonstrates that Ex-Im Bank's strong support of the American aerospace industry increases American competitiveness and supports high-quality American jobs in the process."
"Ex-Im's support of the American aerospace industry is remarkable and should be praised," said El Al Chief Financial Officer Nissim Malki. "El Al benefits from this support, which will facilitate the financing of 737-900 aircraft manufactured by Boeing. We are pleased that this wonderful news came during President Obama's visit to Israel and would like to thank Ex-Im Bank and Chairman Hochberg for their professionalism, patience and creativity in finalizing the transaction."
This transaction is supported by the National Association of Manufacturers (NAM). According to NAM, "this particular transaction will have a positive impact on jobs – both directly and indirectly throughout the supply chain – and will support economic growth in a key manufacturing sector."
El Al was established in 1948 and is the national flag carrier of Israel. El Al continues to play a crucial role for the country, serving all sectors of the Israeli air travel industry, including business travelers, tourists, friends and relatives and immigrants.
Ex-Im Bank's first transaction with Israel was in 1948, the year the country was founded. In FY'12, the Bank authorized $1.7 million and its exposure was $580 million. Ex-Im's current exposure in Israel is approximately $950 million.
(Image provided by Boeing)
More News
Aviation Governance Secured...At Least For a While The National Business Aviation Association similarly applauded the passage of the FAA's recent reauthorization, contentedly recou>[...]
Emphasis On Growing The Future of Aviation Through Concentration on 'AFFORDABLE FLYERS' It's been a number of years since the Latest Edition of Jim Campbell's HUGE SportPlane Resou>[...]
Amazilia Aerospace GmbH, Develops Digital Flight Control, Flight Guidance And Vehicle Management Systems Textron eAviation has acquired substantially all the assets of Amazilia Aer>[...]
Honeywell's Primus Brings New Tools and Niceties for Hawker Operators Hawker 4000 business jet operators have a new installation on the table, now that the FAA has granted an STC f>[...]
Company Celebrates Niche-but-Important Advancement in Industry Standards Echodyne has announced full integration of its proprietary 'EchoFlight' radar into the e American Aerospace>[...]
Bolen Gives Congress a Rare Thumbs-Up
See All