Ex-Im Bank Approves $45.5 Million for Brazilian Airline Maintenance by Delta Airlines

May 9, 2013

(Ex-Im Bank) Ex-Im Financing will support high-quality Delta jobs in Atlanta

WASHINGTON, D.C. — The Export-Import Bank of the United States (Ex-Im Bank) today approved a Final Commitment for a $45.5 million loan guarantee to VRG Linhas Aereas S.A. (GOL), a Brazilian airline. The Ex-Im Bank supported financing will support the export of engine maintenance services by Delta TechOps (Delta), a subsidiary of Delta Airlines, headquartered in Atlanta, Georgia. This transaction will support approximately 400 jobs.

GOL engines will be shipped from São Paulo, Brazil to Atlanta for heavy maintenance to be performed by Delta Air Lines' maintenance, repair, and overhaul unit. Last April, Ex-Im Bank also approved an $84.8 million loan guarantee to GOL to support the export of maintenance services by Delta. More than 50 percent of GOL’s engine maintenance is currently provided by Delta.

“Supporting American service exports is a critical component of what we do here at Ex-Im Bank, and I am pleased that our financing will help support high-quality jobs for Delta employees in Atlanta,” said Ex-Im Bank Chairman Fred P. Hochberg. “American companies provide the best products and services in the world, and this financing demonstrates how Ex-Im Bank helps level the playing field for American companies like Delta.”

Ex-Im Bank approved a second final commitment for GOL to support the export of a Boeing 737-800 aircraft with attached CFM56 engines. It is estimated that this transaction will support approximately 200 jobs at Boeing and its suppliers throughout the United States.

banner1

Welcome to the Exporting Source

Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.

The Export Practitioner
 

Providing readers with expert reports on changes to U.S. export licensing rules, enforcement policies and regulations for defense and dual-use products and technology.

Washington Tariff & Trade Letter

Providing exclusive, behind-the-scenes news and analysis every week of U.S. trade policies, regulations and legislation, export controls, trade sanctions, and enforcement of antidumping and countervailing duty laws.

Mastering Deemed Exports
 

An invaluable video training tool that helps exporters, universities and research laboratories alert all employees to the potential fines and legal sanctions that can come from violating EAR and ITAR restrictions on giving certain foreign nationals access to controlled U.S. technology.