In its first dealings with the airline company, the Export-Import Bank of the United States (US Ex-Im) is backing around US$220mn of financing for Turkish airline SunExpress’s acquisition of several Boeing 737-800 aircraft.
The financing will be provided by the Canadian Toronto-Dominion Bank.
The airplanes’ engines will be manufactured by CFM International, a combined endeavour between France’s Snecma and GE of the US.
SunExpress, the result of a joint venture between Turkish Airlines and Lufthansa, has praised the help and encouragement received from US Ex-Im, as the company’s CEO, Paul Schwaiger, comments: “We are particularly pleased with the supportive and friendly nature of this new cooperation with [US Ex-Im] which has definitely added to our confidence, as manifested in our growth strategy.
“For the first time in SunExpress’s 20-year history, we applied to [US Ex-Im] for their very attractive financing. All of us at SunExpress
are excited about the successful outcome of this transaction.”
Fred Hochberg, chairman and president of US Ex-Im, adds: “[US Ex-Im] is pleased to support SunExpress’ fleet expansion with Boeing 737-800 aircraft. This transaction will maintain jobs at Boeing and CFM and their suppliers across the country. We want to assist more US exporters in this key emerging market.”
Last Updated May 07, 2010
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