The US Export-Import Bank has approved $1.1 billion in financing for Indonesian airline Lion Air's purchase of Boeing 737 aircraft.
Ex-Im Bank is providing a guarantee of financing by Apple Bank for Savings in New York. Additional funding may be provided by capital markets investors through a bond guaranteed by Ex-Im Bank.
The financing will support a portion of the low-cost carrier's outstanding orders for 737-900ER aircraft, which includes the 230 737 aircraft ordered in November 2011.
The aircraft will be delivered to Lion Air, its Malaysian subsidiary Malindo Airways and its Indonesian subsidiary Batik Air.
Source: Air Transport Intelligence news