Record year, but uncertainty remains

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01 November 2011

Export credit pricing is rising, but it is still lower than one year ago.

For the 2010/2011 year, the US Export-Import Bank worked on the largest volume of aircraft loans in its history, guaranteeing about $11.6 billion-worth of Boeing jets.

“It was a record year for the banks, record year for transportation and a record year for Boeing. By every measure 2011 will go down in the history books – at least until 2012,” says Robert Morin, executive vice-president, transportation, US Ex-Im.

Next year is expected to be another busy year for export credit agencies as Airbus and Boeing are together expected to deliver more than 1,000 aircraft.

Kostya Zolotusky, managing director, capital markets, Boeing Capital, says in terms of percentages, the amount of export credit provided by the export credit agencies last year stayed about the same in 2011. However, in terms of dollars, the guarantees increased because the manufacturers delivered more aircraft.

Rising pricingA lot can change in a year....

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