Aircraft & Manufacturers
23 OCTOBER, 2017 Boeing and Mitsubishi Heavy Industries (MHI) have entered an agreement that ...
Airbus is yet to commit to a maiden flight date for its A330neo, but both engines have been fitted . ...
26 SEPTEMBER, 2017 Boeing has created a programme office to support the New Mid-market Airplane, ...
  Airlines business
Gulfstream delivered 30 business jets during the third quarter, one more unit than the same period . ...
Hãng hàng không Quốc gia Vietnam Airlines cho biết sẽ khai thác trở lại đường bay Hà Nội - Tuy Hoà . ...
Embraer Executive Jets delivered the first midsize Legacy 500 assembled at its recently expanded ...
Capital & Insurance
Friday, 29/02/2020, 04:20:33 AM
New Finance Modes Won’t Replace ExIm, Says Boeings Myers
Comment Comment |  Send To E-mail Send To E-mail |  Print Print
by Gregory Polek - March 5, 2018, 3:55 PM

While U.S. ExIm Bank financing remains closed to deals valued at more than $10 million, Boeing last year saw foreign export credit agencies from the UK and Italy step in to help guarantee credit lines from third parties to support their own suppliers, thereby further strengthening a global aircraft finance market that Boeing Capital Corporation president Tim Myers called more robust than any he has seen in his career. Speaking Monday with reporters via conference call from an aviation finance conference in San Diego, Myers emphasized the significance of those recent additions, as well as a projected increase in insurance industry participation in financing Boeing aircraft from 2 percent last year to 5 percent this year. Nevertheless, he also stressed the importance of export credit agency financing during inevitable lean periods.  

“Innovation abounds in this business,” he said. “Boeing worked very closely with the insurance markets last year and launched AFIC, which is the finance and insurance consortium. That company has already done over a billion dollars in financing alone. In the meantime, we’re being supported by those countries who supply a lot of product and parts to the Boeing Company, by their export credit agencies.”

Still, Myers warned of “exogenous shocks” that threaten to disrupt several straight years of good liquidity. For events such as the financial crisis of 2008-2009, ExIm Bank financing often proves critical in maintaining the flow of aircraft deliveries.

“When you look at the financial crisis in ’08-’09, these markets shut down very quickly,” he explained. “What happened is that ExIm and the other ECAs stepped in, and ExIm in ’09 and ’10 took over 30 percent of the Boeing deliveries. So as much as I’d like to say there’s tremendous liquidity today, and we’re creating new options, there’s always a chance where we hit a liquidity crisis.

“There’s also, when you look at a level playing field, having an export credit agency behind us as the number one exporter in the United a tremendously powerful tool,” he added. “You get a lot of transactions that are government to government, and whatever insurance products we can create you can’t create that kind of competitive power.”




Comment Comment |  All Comment
Other news [Back]
 Vietnamese government to divest flag carrier stake  (11/09/2017)
 Online Insurance Portal Launched for Unmanned Aircraft Systems  (23/06/2017)
 THY Boeing 747-400F crashed near Bishkek (continuous)  (17/03/2017)
 THY Boeing 747-400F crashed near Bishkek (continuous)  (10/03/2017)
 THY Boeing 747-400F crashed near Bishkek (continuous)  (02/03/2017)
 THY Boeing 747-400F crashed near Bishkek  (24/02/2017)
 Selecta Insurance has paid out over RUB 25 Mio for airplane crash in Nepal  (16/12/2016)
 Malta Airport Surveillance Plane Crash  (12/12/2016)
 Lead insurer for Emirates plane crash revealed  (01/12/2016)
 Misr Insurance compensates EgyptAir $18 mln for MS804 plane crash  (25/11/2016)
 2016 Aviation Insurance Report (continuous)  (28/10/2016)
 2016 Aviation Insurance Report (continuous)  (20/10/2016)
 2016 Aviation Insurance Report (continuous)  (13/10/2016)
 2016 Aviation Insurance Report (continuous)  (06/10/2016)
 2016 Aviation Insurance Report (continuous)  (15/09/2016)
 VALC News
On 19 Dec 2012, VALC successfully took delivery of the A321-231 aircraft with MSN 5418. This is the ...
Chi tiết
At 17:00 5th September, 2012 local time in Hamburg, Vietnam Aircraft Leasing Company (VALC)   ...
PRESS RELEASE  23-08-2012 11:12am
VALC delivered the first A321-200 to Vietnam Airlines.
Chi tiết
On November 5th, 2011, Vietnam Aircraft Leasing Company (VALC) took delivery of the EC155 B1 ...
VALC Valc, leasing, aircraft, plane, airlines, fastmoney, boeing, airbus, việt nam, airlines, viet nam, finance, investment Copyright © 2008 VALC.COM.VN
Back to top
Homepage  |   Contact  |   Make your homepage  |   Introduce VALC  |   RSS  RSS Feeds
Copyright © 2008 VALC.COM.VN. All Rights Reserved. Address: 6th Floor, No. 18 Ly Thuong Kiet Str., Phan Chu Trinh Ward, Hoan Kiem Dist., Hanoi, Vietnam.