Biman inks $277m loan with JP Morgan for new aircraft

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Biman Bangladesh Airlines (Biman) has signed an agreement with JP Morgan for a 12-year term loan of $277 million to purchase two Boeing aircraft.

The financing facility will be guaranteed by the Export-Import Bank of the United States, JP Morgan said.

As part of its long-term and strategic-expansion programme, Biman plans to deploy these aircraft to service its expanding domestic and international routes, added JP Morgan.

These aircraft will be the first delivery of Biman's 2008 order placed with Boeing for 10 aircraft. Biman has orders for two 737-800s, four 777-300ERs and four 787-8s, according to Flightglobal's ACAS database.