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Export Credit survey
01 December 2004
Whether you love it or hate it, export credit has dominated the last 12 months, but this is just the beginning. By Victoria Pennington.
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Export credit
airline
Airlines
Airbus
aircraft finance
"I have just received your September magazine — you should call it Export Credit Airfinance Magazine," complained one head of aircraft finance. "It is a little bit boring to see so many export credit and Ex-Im deals."
He has a point (even though his bank is one of the banks that feature in our annual league table) because export credit has dominated much of the year.
With only the top credits able to finance aircraft outside this market, many airlines have the choice of either export credit or operating leasing. The bad news for the banker who emailed us is that we will see as many export credit deals in the next few years.
First the numbers. Export credit guarantees financed aircraft worth $15 billion in the 12 months before November 2004. US Ex-Im Bank alone closed around $4.2 billion in the year ending September 2004, slightly less than the $4.5 billion it...
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