US Ex-Im to rule on Comair's finance request today

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

The US Export-Import Bank will rule on Comair's aircraft financing request today at meeting at the export credit agency's offices in Washington DC.

South Africa's Comair is requesting support to cover its Boeing 737-800 aircraft deliveries, Ex-Im confirms in its board meeting notes on the financial request.

According to Flightglobal's Ascend Online database, the carrier has orders for five 737-800s with one delivery (MSN 40855) expected this year, two more in 2015 and the final two units in 2016.

Comair's application is for a long-term loan or financial guarantee in excess of $100 million, says Ex-Im.

The carrier posted a profit of 18 million rand ($2.19 million) for the 12 months to 30 June 2012.

Revenues rose 16% to 4.16 billion rand at the British Airways franchise, while operating costs were up 20% to 3.97 billion rand - largely due to a 50% increase in average jet fuel prices.