Ex-Im Bank Approves First Financing of U.S. Exports to Tajikistan
October 5, 2011
(Ex-Im Bank)
$80 Million Loan Guarantee Supports Boeing Aircraft Sales to Somon Air
WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) is
supporting its first transaction in the Central Asian nation of Tajikistan: the
purchase of Boeing Next-Generation 737-900ER aircraft by Somon Air, a privately
owned airline based in Dushanbe, Tajikistan.
This is Boeing's first sale to Somon Air and the first export of its 737-900ER
and "Sky Interior" aircraft to Central Asia. The aircraft are fitted with
engines from CFM International Inc. in Cincinnati, Ohio. Somon Air accepted
delivery of the first of the aircraft from Boeing last week.
Ex-Im Bank is providing an $80 million guarantee of the loan from the Private
Export Funding Corp. (PEFCO). The financing is structured as an asset-backed
finance lease secured by first-priority mortgages on the aircraft.
"This historic transaction not only supports U.S. manufacturing jobs in both
Washington and Ohio but also employment at Boeing's suppliers across the
country, including many small businesses. It also assists Somon Air in the
expansion of its fleet," said Ex-Im Bank Chairman and President Fred P.
Hochberg.
"This delivery was a series of firsts - the first 737-900ER with Boeing's new
Sky Interior going into the region and Somon Air's first time benefitting from
Ex-Im Bank support. We are delighted that the Bank could help a new, small
airline to realize its goal of operating new Boeing aircraft," said Marty
Bentrott, vice president of Sales for Middle East, Russia and Central Asia,
Boeing Commercial Airplanes.
"Ex-Im Bank's support in this financing for Somon Air is very important. It is
the first Ex-Im Bank deal in Tajikistan, and we are proud to be part of this
historic event. Ex-Im Bank's support has enabled our airline to secure long-term
financing for these aircraft. We hope that this deal will open many more
opportunities for Somon Air as we grow and for other Tajik companies," said
Somon Capital CEO Jamshed Rahmonberdiev.
Somon Air, the first privately owned airline in Tajikistan, began operating
flights to Moscow in 2008. The airline presently operates regular flights to
Frankfurt, Germany; Dubai, United Arab Emirates; Istanbul, Turkey; Almaty,
Kazakhstan; Urumqi, China; Moscow, St. Petersburg and several other cities in
Russia.
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