Ex-Im increases subsidies for large aircraft

(PRNewswire, 7 Sep 2006, Washington) The Export-Import Bank of the United States (Ex-Im Bank) has extended its offer to reduce exposure fees by a third on asset-backed financings of new U.S.-manufactured large commercial aircraft for buyers in countries that ratify and implement the Cape Town Treaty. Ex-Im Bank's board of directors applauded the progress that OECD export credit agencies (ECAs) have made to date in developing a common approach to offering improved financing terms to airlines based in countries that ratify and implement the Cape Town Treaty, which significantly reduces the legal risks associated with cross- border, asset backed aircraft financings and leases. Air transport represents 35% of OECD ECA long-term credits, with Boeing and AirBus being the greatest beneficiaries.