Ex-Im Bank Approves More Than $170M in Export Financing for Aeromexico | SupplyChainBrain

Ex-Im Bank Approves More Than $170M in Export Financing for Aeromexico

Export-Import Bank

June 26, 2012

The final commitments approved by Ex-Im Bank will support the export to AeromÃƒÂ©xico of Boeing 737 passenger aircraft, as well as various goods and services to be provided by a variety of U.S. exporters. The latter includes the maintenance, repair and overhaul operations division of engines and auxiliary power units by Delta TechOps in Atlanta, and Honeywell in Phoenix.

"Ex-Im Bank's support of Grupo AeromÃƒÂ©xico has been vitally important and played a key role in our fleet renewal process that we started a decade ago," said AndrÃƒÂ©s Conesa, CEO of AeromÃƒÂ©xico.

In order to provide AeromÃƒÂ©xico with a natural currency hedge, the final commitments are structured as Mexican Peso denominated Ex-Im Bank guaranteed loans. The guaranteed lenders will be Banco Nacional de MÃƒÂ©xico (a fully-owned subsidiary of Citibank) and HSBC.

Source: Export-Import Bank

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