ERA seeks more take up for EU-backed regional aircraft financing
The European Regions Airline Association is calling on members to take advantage of European Investment Bank funding for new aircraft purchases. The EIB, which is owned by the EU member states, created the E1b (US$1.2b) fund in 2016 after lobbying from the ERA member airline CFOs, who were struggling to source financing for new regional aircraft orders. Under the facility, the EIB lends the money to local banks, which funds the airline directly at competitive rates. In 2017, Spanish and Dutch regionals Air Nostrum and KLM Cityhopper became the first to use the money, drawing down a total of E500m to fund Bombardier and Embraer aircraft. ERA DG Montserrat Barriga urged other ERA member airlines to make use of the financing, which runs until around 2020. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-03-27/general/era-seeks-more-take-up-for-eu-backed-regional-aircraft-financing
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ERA seeks more take up for EU-backed regional aircraft financing
The European Regions Airline Association is calling on members to take advantage of European Investment Bank funding for new aircraft purchases. The EIB, which is owned by the EU member states, created the E1b (US$1.2b) fund in 2016 after lobbying from the ERA member airline CFOs, who were struggling to source financing for new regional aircraft orders. Under the facility, the EIB lends the money to local banks, which funds the airline directly at competitive rates. In 2017, Spanish and Dutch regionals Air Nostrum and KLM Cityhopper became the first to use the money, drawing down a total of E500m to fund Bombardier and Embraer aircraft. ERA DG Montserrat Barriga urged other ERA member airlines to make use of the financing, which runs until around 2020. <br/>
