Ex-Im Bank Authorizes $117.5 Million in First Financing of Boeing Aircraft to flydubai
October 9, 2012
(Ex-Im Bank)
Washington, D.C. — 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.
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