Jetrader - Autumn 2018 - 19

seen that in a long time, and it's going to
support our deliveries and our customers.
We are now going into our 50th year on
building our knowledge in aircraft financing at Boeing Capital, and it's exciting to
see the solutions continue to expand for
our customers.
Jetrader: Although Boeing worked with
insurance providers to create the Aircraft
Finance Insurance Consortium (AFIC)
to help fill the gap on available U.S.
EXIM Bank financing, Boeing has publicly
stated that it's important to get EXIM
back up and running. Can you elaborate
on that a bit?
TM: As part of our customer commitment,
we work with every part of the financing
markets: commercial banks and capital
markets. We're also now expanding and
working with the global credit agencies.
In the past year, we're done transactions
with U.K. Export Finance, and we've done
transactions with the Italians at SACE. We
continue to work on our relationship at
NEXI, and we're also now looking at the
Australians with EFIC.
But it's important to know that neither
AFIC nor any of the global ECAs I just
mentioned have the adequate replacement demand for a fully functioning U.S.
EXIM Bank. In all the cases, the amount
of export financing provided would be
less than what EXIM can provide in times
of crisis or when it's necessary to access
different markets when the commercial
markets aren't there.
The new financing solutions that we're
working on are simply intended to complement what EXIM does. The United States
needs a fully functioning EXIM Bank but
as a complement to economic growth. If
you look at tax reform and what that's
done, it has made it possible for American
companies to compete globally. Now you
need to make sure that we don't lose these
new business opportunities because our
customers want to go and shop other countries and their export credit agencies. I
think the last time we tallied it, there
were more than 80 countries with active
export credit agencies.
The reasons for export credit are still
valid. When you think about the EXIM Bank
having been around for over 85 years, and
when you look at why it was created, those

examples are still valid today. You obviously need to support emerging markets
where commercial finance isn't really there.
Secondly, to really bridge the aviation market when there's disruption. You think of
what happened in the financial crisis. EXIM
Bank stepped up and handled 33 percent
of Boeing's deliveries in a single year,
where the financial markets were tied up.
And lastly, which is a very important role,
as well, is that it acts as a level playing
field mechanism. Our customers are very

920457_Aerospace.indd 1

demanding when it comes to having the
best product at the best prices, but they're
also very demanding when it comes to
competitive financing. They'll use that to
their advantage and look at what a country can offer them in terms of financing.
Without having EXIM, the U.S. remains
at a long-term competitive demand disadvantage for our products. Certainly for
the planes that we make and other aerospace suppliers and others that are using
EXIM Bank, we just want a level playing

Jetrader * Autumn 2018
19
7/18/18 1:38 PM


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Jetrader - Autumn 2018

Table of Contents for the Digital Edition of Jetrader - Autumn 2018

Message from the President: Douglas W. Runte, CFA
Calendar/News
Q&A: Tim Myers, President, Boeing Capital Corporation
Helping Hands
Making (Nearly) Everyone Happy
Business and Pleasure
Home Away From Home: ISTAT’s Farnborough International Airshow Chalet and Reception
Looking Back. Looking Ahead
Q&A: Eduardo Fairen
From the ISTAT Photo Archives: ISTAT EMEA
Aviation History: Northrop’s Flying Wing Bomber – Grandfather of the B-2 Spirit
Aircraft Appraisals: Airbus A220-300/ Embraer E190-E2
From the ISTAT Foundation: The Right Stuff
Advertiser Index
Advertiser.com
Jetrader - Autumn 2018 - Intro
Jetrader - Autumn 2018 - cover1
Jetrader - Autumn 2018 - cover2
Jetrader - Autumn 2018 - 3
Jetrader - Autumn 2018 - 4
Jetrader - Autumn 2018 - 5
Jetrader - Autumn 2018 - 6
Jetrader - Autumn 2018 - Message from the President: Douglas W. Runte, CFA
Jetrader - Autumn 2018 - 8
Jetrader - Autumn 2018 - 9
Jetrader - Autumn 2018 - 10
Jetrader - Autumn 2018 - 11
Jetrader - Autumn 2018 - Calendar/News
Jetrader - Autumn 2018 - 13
Jetrader - Autumn 2018 - Q&A: Tim Myers, President, Boeing Capital Corporation
Jetrader - Autumn 2018 - 15
Jetrader - Autumn 2018 - 16
Jetrader - Autumn 2018 - 17
Jetrader - Autumn 2018 - 18
Jetrader - Autumn 2018 - 19
Jetrader - Autumn 2018 - 20
Jetrader - Autumn 2018 - 21
Jetrader - Autumn 2018 - Helping Hands
Jetrader - Autumn 2018 - 23
Jetrader - Autumn 2018 - Making (Nearly) Everyone Happy
Jetrader - Autumn 2018 - 25
Jetrader - Autumn 2018 - 26
Jetrader - Autumn 2018 - 27
Jetrader - Autumn 2018 - 28
Jetrader - Autumn 2018 - 29
Jetrader - Autumn 2018 - Business and Pleasure
Jetrader - Autumn 2018 - 31
Jetrader - Autumn 2018 - 32
Jetrader - Autumn 2018 - 33
Jetrader - Autumn 2018 - 34
Jetrader - Autumn 2018 - 35
Jetrader - Autumn 2018 - 36
Jetrader - Autumn 2018 - 37
Jetrader - Autumn 2018 - Home Away From Home: ISTAT’s Farnborough International Airshow Chalet and Reception
Jetrader - Autumn 2018 - 39
Jetrader - Autumn 2018 - Looking Back. Looking Ahead
Jetrader - Autumn 2018 - 41
Jetrader - Autumn 2018 - 42
Jetrader - Autumn 2018 - 43
Jetrader - Autumn 2018 - 44
Jetrader - Autumn 2018 - 45
Jetrader - Autumn 2018 - Q&A: Eduardo Fairen
Jetrader - Autumn 2018 - 47
Jetrader - Autumn 2018 - 48
Jetrader - Autumn 2018 - 49
Jetrader - Autumn 2018 - 50
Jetrader - Autumn 2018 - 51
Jetrader - Autumn 2018 - 52
Jetrader - Autumn 2018 - From the ISTAT Photo Archives: ISTAT EMEA
Jetrader - Autumn 2018 - Aviation History: Northrop’s Flying Wing Bomber – Grandfather of the B-2 Spirit
Jetrader - Autumn 2018 - 55
Jetrader - Autumn 2018 - 56
Jetrader - Autumn 2018 - 57
Jetrader - Autumn 2018 - 58
Jetrader - Autumn 2018 - Aircraft Appraisals: Airbus A220-300/ Embraer E190-E2
Jetrader - Autumn 2018 - 60
Jetrader - Autumn 2018 - 61
Jetrader - Autumn 2018 - 62
Jetrader - Autumn 2018 - From the ISTAT Foundation: The Right Stuff
Jetrader - Autumn 2018 - 64
Jetrader - Autumn 2018 - Advertiser Index
Jetrader - Autumn 2018 - Advertiser.com
Jetrader - Autumn 2018 - cover3
Jetrader - Autumn 2018 - cover4
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