Ex-Im Bank Announces New Policy to Increase U.S. Aviation-Industry Exports
May 25, 2012
(Ex-Im)
WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank)
today announced a new policy to increase U.S. aviation-industry exports. Ex-Im
will now finance transactions of U.S.-produced goods and services for
aftermarket (post-manufacturing) use on foreign-manufactured aircraft.
The new policy will expand Ex-Im financing to benefit suppliers of many
different products and services, including escape slides, flight simulators,
entertainment systems and maintenance services. Ex-Im Bank also may now consider
support for exports by a U.S. small business to a foreign aircraft
manufacturer.
Ex-Im policy will continue to prohibit the Bank from financing
non-small-business sales of capital goods, services and major component sales to
large-foreign-aircraft manufacturers.
“Upon careful consideration and review, we have determined that it is in the
best interest of U.S. exporters, and small businesses in particular, for Ex-Im
Bank to be able to finance aftermarket sales to airlines to outfit or service
their foreign aircraft,” said Fred P. Hochberg, chairman and president of the
Ex-Im Bank. “Airlines need to purchase parts and services for their aircraft,
and we want them to buy American. This new policy will strengthen our support
for the U.S. aviation industry, particularly for small businesses seeking to
grow through exporting.”
Chairman Hochberg added that the Bank will continue its strong support for U.S
aircraft export sales to meet tough global competition.
In fiscal year 2011, Ex-Im Bank authorized more than $12.6 billion in financing
to support the export of U.S.-made aircraft of all types, including $10.8
billion in support of commercial aircraft sales to a total of 21 countries.
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