The board of the Export-Import Bank of the United States (Ex-Im Bank) has agreed to guarantee a $500million loan from Apple Bank to OJSC VEB Leasing (VEBL) to fund a fleet of 777 aircraft to be operated by Aeroflot Russian Airlines.
The first aircraft delivered earlier this month.
"The transaction showcases once again the wealth of opportunities for U.S. exporters in Russia," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Moreover, the aircraft sale will support thousands of high-paying American jobs and provide Aeroflot with a top-of-the-line product."
VEBL, a subsidiary and leasing arm of the state-owned Vnesheconombank Group (VEB), will lease the aircraft to Aeroflot.
"Boeing is very pleased that Aeroflot becomes Russia's first airline to add the 777-300ER to its fleet," said Marty Bentrott, Boeing Commercial Airplanes sales vice president for the Middle East, Russian and Central Asia. "Russia is an important and growing market for aviation and aircraft financing. Ex-Im Bank's innovative financing structuring in this transaction facilitates Aeroflot selecting U.S.-built airplanes to help it succeed, while supporting U.S. exports and sustaining good-paying, high-skilled American aviation manufacturing jobs."
VEB Leasing Ex-Im-backed loan approved
