Executive Briefings

Ex-Im Bank Approves More Than $170M in Export Financing for Aeromexico

The board of directors of the Export-Import Bank of the United States has approved two final commitments aggregating $171m in export financing for Aerovias de Mexico S.A. de C.V., or Aeroméxico, the country's largest airline. This transaction effectively triples Ex-Im support for Mexican aviation companies purchasing goods and services from U.S. companies.

The final commitments approved by Ex-Im Bank will support the export to Aeroméxico of Boeing 737 passenger aircraft, as well as various goods and services to be provided by a variety of U.S. exporters. The latter includes the maintenance, repair and overhaul operations division of engines and auxiliary power units by Delta TechOps  in Atlanta, and Honeywell in Phoenix.

"Ex-Im Bank's support of Grupo Aeroméxico has been vitally important and played a key role in our fleet renewal process that we started a decade ago," said Andrés Conesa, CEO of Aeroméxico.

In order to provide Aeroméxico with a natural currency hedge, the final commitments are structured as Mexican Peso denominated Ex-Im Bank guaranteed loans.  The guaranteed lenders will be Banco Nacional de México (a fully-owned subsidiary of Citibank) and HSBC.

Source: Export-Import Bank

The final commitments approved by Ex-Im Bank will support the export to Aeroméxico of Boeing 737 passenger aircraft, as well as various goods and services to be provided by a variety of U.S. exporters. The latter includes the maintenance, repair and overhaul operations division of engines and auxiliary power units by Delta TechOps  in Atlanta, and Honeywell in Phoenix.

"Ex-Im Bank's support of Grupo Aeroméxico has been vitally important and played a key role in our fleet renewal process that we started a decade ago," said Andrés Conesa, CEO of Aeroméxico.

In order to provide Aeroméxico with a natural currency hedge, the final commitments are structured as Mexican Peso denominated Ex-Im Bank guaranteed loans.  The guaranteed lenders will be Banco Nacional de México (a fully-owned subsidiary of Citibank) and HSBC.

Source: Export-Import Bank