Unique Leasing Program Widens Mexican Market For U.S. Exports
FOR IMMEDIATE RELEASE October 21, 2002
Marianna Ohe (202) 565-3200
An Export-Import Bank of the United States (Ex-Im Bank) $5.8 million medium-term insurance policy is supporting the sale by Raytheon Aircraft Co., Inc., Wichita, KS, of one Beechcraft 400A twin-engine jet aircraft to Aerolineas Ejecutivas, S.A. de C.V. in Toluca, Mexico.
Aerolineas Ejecutivas is an aircraft operating, servicing and rental firm which owns 15 aircraft and operates 24 others on behalf of aircraft owners. The 117-employee company will use the aircraft for its unique leasing program under which clients buy the rights to up to 8,000 flight hours of use for a specific aircraft over a 10-year period. Typically there are 10 clients for each aircraft. The program thus brings aircraft use to clients who are unable to buy individual aircraft.
This foreign buyer's innovative leasing program widens the small aircraft market in Mexico for U.S. manufacturers, said Ex-Im Bank Vice Chairman Eduardo Aguirre, Jr. We are pleased to support an export sale that offers potential for additional business.
The insured lender to the foreign buyer for this export sale is PNC Bank, Pittsburgh, PA. The insurance broker on the transaction is Export Insurance Agency, Walpole, MA. The primary source of repayment is Aerolineas Ejecutivas.
Ex-Im Bank is an independent U.S. government agency that helps finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance. In fiscal year 2002, Ex-Im Bank supported $13 billion of U.S. exports worldwide.