The Export-Import Bank of the United States (Ex-Im Bank) is providing an $80 million guarantee of the loan from the Private Export Funding Corp. (PEFCO) for one 737-900ER delivered to Tajikistan airline Somon Air. The financing is structured as an asset-backed finance lease secured by first-priority mortgages on the aircraft.
“This historic transaction not only supports U.S. manufacturing jobs in both Washington and Ohio but also employment at Boeing’s suppliers across the country, including many small businesses. It also assists Somon Air in the expansion of its fleet,” said Ex-Im Bank Chairman and President Fred P. Hochberg.
“This delivery was a series of firsts – the first 737-900ER with Boeing’s new Sky Interior going into the region and Somon Air’s first time benefitting from Ex-Im Bank support. We are delighted that the Bank could help a new, small airline to realize its goal of operating new Boeing aircraft,” said Marty Bentrott, vice president of Sales for Middle East, Russia and Central Asia, Boeing Commercial Airplanes.
“Ex-Im Bank’s support in this financing for Somon Air is very important. It is the first Ex-Im Bank deal in Tajikistan, and we are proud to be part of this historic event. Ex-Im Bank‘s support has enabled our airline to secure long-term financing for these aircraft. We hope that this deal will open many more opportunities for Somon Air as we grow and for other Tajik companies,” said Somon Capital CEO Jamshed Rahmonberdiev.
Somon Air, the first privately owned airline in Tajikistan, began operating flights to Moscow in 2008. The airline presently operates regular flights to Frankfurt, Germany; Dubai, United Arab Emirates; Istanbul, Turkey; Almaty, Kazakhstan; Urumqi, China; Moscow, St. Petersburg and several other cities in Russia.