EXIM approves $54.9million loan guarantee supporting aircraft engine exports to Turkish Airlines

On May 20, the Board of Directors of the Export-Import Bank of the United States (EXIM) approved a $54.9 million guarantee of a loan from BNP Paribas to support the export of a GEnx spare engine and two GEnx spare propulsors from GE Aviation to Turkish Airlines (Turk Hava Yollari). EXIM states that this loan would not have been available in the private sector without its guarantee, which will enable the deliveries of the GE engines to be completed in 2021. “Today’s board action demonstrates EXIM’s ability to fill a financing gap on behalf of a US manufacturer in an