Nas Air closes Ex-Im loan on Hawker 750s - Airfinance Journal - May 18 - May 22 2009

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Nas Air closes Ex-Im loan on Hawker 750s

19 May 2009

US government supports Hawker 750 exports to Saudi Arabia

Read more: [National Air Services] [Ex-Im Bank]

Arab Banking Corporation has closed a $60.5 million Ex-Im Bank guaranteed loan for Saudi Arabian business jet operator National Air Services.

The seven year facility finances six Hawker 750 aircraft from US manufacturer Hawker Beechcraft Corporation.

The business...

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Poll

Does the 'Home Country Rule' give an unfair advantage to some airlines?

Yes

71%

No

29%

Quote

We see it as a win-win for everyone. The creditors of Allco Finance Group get a sizeable proportion of their money back, probably more than they expected. The economic interests of the senior and other subordinated aircraft lenders are fully aligned with us especially as we are investing in junior positions and aircraft residuals. We are particularly motivated to manage the aircraft well as we will not see a return on our investment until senior and junior lenders are repaid in full. We have also said that we are prepared to pay lenders down once the deal has closed. ”

Bharat Bhise, CEO of Bravia Capital, can not understand why some Allco Aviation lenders are not supportive of HNAs bid.