Ex-Im Bank Approves $244 Million Guarantee for Thai Airways B747-400 Aircraft Acquisition

Strategic Insights -

The Export-Import Bank of the United States (Ex-Im Bank) has approved a $244 million long-term guarantee to support the export of B747-400 aircraft by The Boeing Co. to Thai Airways International Public Company, Ltd. This transaction will sustain thousands of U.S. jobs at Boeing sub-suppliers and support Thai Airways' fleet modernization. Ex-Im Bank has been financing U.S. exports for 70 years, primarily to emerging markets, and in fiscal year 2003, authorized financing for $14.3 billion in U.S. exports worldwide.

Key Takeaways:

  • Ex-Im Bank approved a $244 million long-term guarantee to support the export of B747-400 aircraft by The Boeing Co. to Thai Airways International Public Company, Ltd.
  • The transaction will sustain thousands of U.S. jobs at Boeing sub-suppliers across the country.
  • Thai Airways is Thailand's national flag carrier, covering more than 72 destinations in 34 countries on five continents.
  • Ex-Im Bank is guaranteeing a Japanese yen-denominated loan by BNP Paribas, Singapore, equivalent to $244 million.
  • The aircraft acquisition is a continuation of Thai Airways' modernization program to increase flight frequencies and expand its fleet.
  • Ex-Im Bank has been financing U.S. exports for 70 years, primarily to emerging markets, and has approved financing for major transactions such as this one.
  • The transaction is structured as an asset-based financing with the aircraft serving as collateral.

Statistics:

  • $244 million: the value of the long-term guarantee approved by Ex-Im Bank.
  • 70 years: the number of years Ex-Im Bank has been financing U.S. exports.
  • 72 destinations: the number of destinations covered by Thai Airways International Public Company, Ltd.
  • 34 countries: the number of countries covered by Thai Airways' airline routes.
  • $14.3 billion: the value of U.S. exports authorized for financing by Ex-Im Bank in fiscal year 2003.

Sources:

  • The Export-Import Bank of the United States (Ex-Im Bank)
  • The Boeing Co.
  • Thai Airways International Public Company, Ltd.
  • General Electric Co.
  • BNP Paribas, Singapore