The USA’s export-credit agency has agreed to guarantee $833m in financing for the acquisition by Turkish Airlines of an undisclosed number of Boeing 737 Max and 787s. The Export-Import Bank of the United States disclosed the guarantees on 2 August, though the finance agency has provided few details. The Ex-Im Bank’s board of directors approved “$832.5m in loan guarantees to support exports of US-manufactured Boeing 787-9 aircraft, 737 Max 8 aircraft and 737 Max 9 aircraft, respectively, to Turkish Airlines in Istanbul”, the credit agency says. It did not disclose the number of jets those funds will finance. Neither Boeing nor Turkish Airlines responded to a request for comment. Turkish Airlines holds unfilled orders with Boeing for 10 787-9s and nine 737 Max, according to Boeing’s figures. “These are solid transactions at a critical time, and they provide a reasonable assurance of repayment,” says Ex-Im Bank’s acting first VP James Cruise. The agency’s support for aircraft export deals is “especially needed at this time because of the significant financial impact of Covid-19”, adds acting president James Burrows. The Ex-Im Bank supported only about 1% of Boeing’s commercial jet deliveries in 2020, though the agency backed about 30% of Boeing deliveries early last decade amid that period’s financial crisis, according Boeing’s most-recent Aircraft Finance Market Outlook. Known by some critics as “Boeing’s Bank” – a nod to Ex-Im’s long history of backing sales of Boeing jets – the Ex-Im Bank provides several programmes that help non-US buyers purchase US products. Those include guarantees of foreign buyers’ loans.<br/>
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Doctors, scientists, city councils and even airlines told the Climate Change Commission to up its ambition – while farmers and miners wanted the body to ease off. The commission’s draft advice received split feedback after it was released in February, the newly-released submissions show. Submitters providing technical feedback – for example, a reminder from Air NZ and Sounds Air not to forget about electric planes – had more success than generalised comments from submitters aiming to influence the final report, which was publicly released in June. The national airline was one of many submitters who believed the country could introduce more radical emissions cuts. Air NZ expects to be using some sustainable aviation fuel – which produces up to 85% fewer emissions than fossil fuels – by 2025. The draft underestimated the potential growth of this industry, it said, and had also forgotten to include “next generation” aircraft, such as hybrid, electric and hydrogen planes. Sounds Air said it planned to introduce electric planes by 2026. On these points, the commission listened, and included electric aircraft into its models from 2030.<br/>