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Ex-Im Bank loan for Brazilian airline maintenance

Chris Gillis
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   The U.S. Export-Import Bank approved a final commitment for a $45.5 million loan guarantee to VRG Linhas Aereas S.A. (GOL), a Brazilian airline.
   The financing will support the export of engine maintenance services by Delta TechOps (Delta), a subsidiary of Delta Airlines. This transaction will support about 400 jobs, according to Ex-Im Bank.
   GOL engines will be shipped from São Paulo, Brazil, to Atlanta for heavy maintenance to be performed by Delta’s maintenance, repair, and overhaul unit. Last April, Ex-Im Bank also approved an $84.8 million loan guarantee to GOL to support the export of maintenance services by Delta. More than 50 percent of GOL’s engine maintenance is currently provided by Delta.
   “Supporting American service exports is a critical component of what we do here at Ex-Im Bank,” said Fred P. Hochberg, bank chairman, in a statement.
Ex-Im Bank approved a second final commitment for GOL to support the export of a Boeing 737-800 aircraft with attached CFM56 engines. It is estimated that this transaction will support about 200 jobs at Boeing and its suppliers throughout the United States.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.