Ex-Im Bank Predicts ‘Golden Age’ for Business Jet Finance
An article on Flightglobal.com reported that the Export-Import (Ex-Im) Bank of the United States spent $250M in financing around 25 business-jet and helicopter purchases last year. However, this figure constitutes a mere 2% of all aircraft financed by the Ex-Im Bank in 2011, when it allocated a hefty $11.5 billion towards 160 commercial aviation deals.
The report quoted Bob Morin, vice president, transportation, Ex-Im Bank, speaking at the International Corporate Jet & Helicopter Finance 2012 conference in London, as saying, “Over the next five years, export credit agencies will be doing fewer commercial aircraft deals and the business jet industry will reap the benefits,” and adding that “the golden age of ECA financing in business jets lies ahead of us.”
The article said Morin predicts a shift in Ex-Im’s asset allocation in favor of the business jet market over the coming years. The changing terms being imposed on export credit agencies mean that the Ex-Im Bank will have a smaller role to play in commercial aircraft management, the report said, citing Morin.
To read the full Flightglobal article click here.
