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ECAs to support 30% of Airbus sales
10 August 2009
The UK Export Credits Guarantee Department (ECGD) says that European ECAs are set to step up their involvement in aircraft exports and are looking to support around 30% of Airbus sales over the coming year
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ECGD
Export Credits Gurantee Department
ECAs
Airbus
A380
European export credit agencies will play a substantially increased role in aircraft financing over the coming year as they look to support around 30% of all Airbus sales.
Steve Roberts-Mee, a spokesman for the Export Credits Guarantee Department (ECGD), told Airfinance Journal that the UK ECA increased its support for Airbus aircraft over the financial year 2008-09 and is set to play an even bigger role going forward.
“We have seen a large increase in Airbus deals that previously might have gone to private finance,” he said.
And he said that all European ECAs, including Coface of France and Hermes in Germany (both private companies), will support more Airbus sales this year.
“Over recent years, ECAs have done about 12-14% of all Airbus sales. For this year coming, however, we will support about 30% of all Airbus sales – a reflection that private...
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