The Export-Import Bank of the United States (US Exim) has guaranteed a US$1.1bn loan for the export of a fleet of aircraft.

The borrower is Lion Air, the largest privately owned airline in Indonesia. The lender is Apple Bank for Savings in New York. Additional funding may be provided by the capital markets via a US Exim-guaranteed bond.

The transaction will allow Lion Air to purchase a fleet of Boeing 737-900ER aircraft, which will also be distributed to Malindo Airways of Malaysia and Batik Air, in Indonesia.

US Exim’s chairman Fred Hochberg says: “US Exim is pleased to support part of Lion Air’s historic purchase order of Boeing extended-range aircraft. This is a tremendous opportunity for American exporters and will help to sustain thousands of jobs in the US aerospace industry for years to come.”