US Eximbank is evaluating how to respond to a request to support US-made components and avionics slated for installation in Brazilian-built EMB.145s. If it decides to proceed, this will be the first time Eximbank has supported the export of US-made aircraft parts separate from export of an aircraft.
The closest Eximbank has come before was its preliminary commitment a year ago to Russia's Aeroflot RIA to guarantee up to $1 billion for US-built Pratt & Whitney engines to power the carrier's Il-96s. But Robert Morin, Eximbank's counsel, insists the Aria commitment does not resolve the policy questions raised by this latest request.
For one thing, the Aria commitment is still subject to final approval. Second, the financing of an EMB.145 could occur earlier than the Aria deal, leapfrogging the Pratt & Whitney commitment. Exim-bank's cover would take effect when an aircraft is sold, not when the components are exported to Brazil.
Informed sources add that one of Eximbank's concerns is that Brazil's export credit agency does not conform to OECD standards, which could put Eximbank in an awkward position on an aircraft sale backed by both itself and the Brazilian ECA. The same problem could not arise in Russia, since Eximbank has only agreed to support US engines installed on aircraft to be sold within Russia.
Eximbank's prior experience has been the reverse situation where foreign engines or parts are sold on a US-exported aircraft. It has elaborate foreign content guidelines and considerable experience in supporting US aircraft exported with a separate European ECA guarantee on the engines.
Source: Airline Business
