NEW EXPORT CREDIT RULES MAKES FINANCING MORE EXPENSIVE

The new export credit rules agreed this week, to be confirmed by January 20, will make financing more expensive using export guarantees because the premiums will be raised from February 1. Minimum premiums, the new proposals say, will be set annually with reference to market conditions, although more detail on what this will mean in practices has not been forthcoming. However it has been revealed that for in investment-grade airlines, premiums will double to around 8%. A market surcharge has also been introduced that will be revised every quarter. Deliveries made throughout 2012 are allowed to be financed under the