US bank EXIM board backs $811m loan guarantee to help sell Boeing Jet | Investment News

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WASHINGTON (Reuters) – The Export-Import Bank of the United States (EXIM) said on Friday its board had approved an $811 million loan guarantee to help fund the sale of wide-body jets Boeing to the Franco-Dutch airline Air France-KLM. HER.

EXIM said in a statement that the loan guarantee would support planes assembled at Boeing’s factories in Everett, Washington, and North Charleston, South Carolina, which produce 787 jetliners. He did not specify the number of aircraft affected, but KLM had ordered some 15 787-10 aircraft and began taking delivery in 2019.

Since then, Boeing has experienced severe delays in 787 Dreamliner deliveries due to production defects and notified airlines and suppliers that deliveries would resume in the second half of 2022, but is still awaiting regulatory approvals.

EXIM said in a statement that the loan guarantee would support hundreds of small and medium-sized business suppliers and approximately 4,500 jobs in the United States.

“This transaction also helps a sector critical to America’s economic security rebound from the economic impacts of the COVID-19 pandemic,” he said.

A Boeing spokesperson could not immediately be reached.

Boeing in December lost a major Air France-KLM order for 100 new narrow-body jets to rival Airbus.

(Reporting by David Lawder; editing by Jonathan Oatis and Grant McCool)

Copyright 2022 Thomson Reuters.

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