Kenya Airways seeks Ex-Im financing for 777 and 787 aircraft

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The US Export-Import Bank (Ex-Im) is considering a request by Kenya Airways for a more than $100 million long-term loan or guarantee for Boeing 787 and 777 aircraft.

The export credit agency’s board will vote on the financing commitment after a public comment period ends on 21 January 2014, according to a notice in the US government’s Federal Register today.

The aircraft are equipped with General Electric (GE) engines, the notice says.

Kenya Airways has one 777-300ER and eight 787-8 aircraft with GE engines on order, Flightglobal’s Ascend Online database shows.

The 777 is leased from GECAS with delivery scheduled for May 2014, according to Ascend.

Kenya Airways will take delivery of six 787s in 2014, with the first aircraft due in March, Ascend shows.

US Ex-Im previously provided the African carrier with a more than $100 million financing commitment for a 777-200ER aircraft in March 2004, and a loan guarantee for two Boeing 737-700 aircraft in December 2002.