The Export Import Bank (Ex-Im) of the US is planning to provide financing to China’s ICBC Leasing to help it acquire Hawker Beechcraft’s demonstration aircraft fleet.
The Export Import Bank of the US (Ex-Im) is planning to provide financing to China’s ICBC Leasing to help it acquire a fleet of Hawker Beechcraft demonstration aircraft.
Ex-Im’s Board of Directors has approved the transaction and the financing is now being documented.
ICBC Leasing, a subsidiary of the Industrial Commercial Bank of China, will acquire the aircraft and lease them back to Hawker Beechcraft. The manufacturer will use them as demonstration aircraft in connection with sales campaigns and other potential sales to non-US based customers.
This is the first time that a Chinese domestic leasing company has obtained financing provided by Ex-Im.
The aircraft are expected to be based, and used as demonstration aircraft, in Asia, Europe, and the Middle East.