US Ex-Im Bank weighs financing drones as jetliner deals fade

The US trade agency nicknamed the “Bank of Boeing” could finance drones, converted cargo jets and aircraft maintenance services as it scouts for deals. The Export-Import Bank was reauthorized by Congress in December, months after financing lapsed and new transactions were halted. The bank is exploring additional lending possibilities, including drones that can scan pipelines, buildings and borders, said Robert Morin, the agency’s senior vice president for business and product development. “We’re just scratching the surface in terms of what is possible,” he said. Financing aircraft and jet engines for foreign customers of US companies remains a large part of the bank’s mission. Critics -- including congressional Republicans and the conservative Heritage Foundation think tank -- have said such deals amount to corporate welfare for Boeing and General Electric. The ex-im bank’s portfolio includes 1,125 aircraft backed by loans and guarantees valued at about $50b, Morin said.<br/>