El Al secures $190 Ex-Im loan guarantee

Victoria
By Victoria March 25, 2013 14:17

El Al secures $190 Ex-Im loan guarantee

The Export-Import Bank of the United States (Ex-Im Bank) has authorised more than $190 million in financing to support the export of Boeing 737-900ER aircraft to El Al Israel Airlines (El Al).

“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.”

Victoria
By Victoria March 25, 2013 14:17
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