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Business Air News Bulletin
Business Air News Bulletin
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G650 on its way to Czech Republic thanks to EXIM loan
A G650 transaction is supporting hundreds of American jobs at Gulfstream in Savannah, Georgia, and at companies in the Gulfstream supply chain, which extends over approximately 80 per cent of the United States.
EXIM chairman Kimberly Reed and Gulfstream senior VP for administration and general counsel Ira Berman holding a model Gulfstream G650ER.

A buyer in the Czech Republic has received a medium-term loan from Export-Import Bank of the United States (EXIM) to fund the purchase of a Gulfstream G650. The transaction was approved in February 2019 by EXIM senior officials under individual delegated authority, during the period before the quorum on EXIM's board of directors was restored in May 2019. The transaction was the first EXIM financing in support of Gulfstream aircraft since December 2014. Band chairman Kimberly Reed recently visited the headquarters of Gulfstream to present the company with the agency's Deal of the Year award, in recognition of the risk-sharing transaction supporting the export of the jet to the Czech Republic.

According to EXIM estimates, the transaction supported hundreds of American jobs at Gulfstream in Savannah, Georgia, and at companies in the Gulfstream supply chain, which extends over approximately 80 per cent of the United States. Reed presented the Deal of the Year award to Gulfstream's senior vice president for administration and general counsel Ira Berman in a socially-distanced ceremony.

“I am honoured to present the EXIM Deal of the Year Award to Gulfstream, along with Apple Bank for Savings, AirFinance, Marsh's Aircraft Finance Insurance Consortium and AXIS Insurance, the other companies involved in this public-private financing partnership. The numerous individuals who worked together to reach an innovative solution to facilitate this deal, along with our exceptional EXIM staff, are to be commended,” says Reed. “Nothing makes me prouder than to see high-quality, 'Made in the USA' products, like these exceptional, technologically advanced aircraft manufactured by Gulfstream, and the American workers in Savannah, Georgia and elsewhere who make it possible for the United States to succeed and win in the very competitive global marketplace.”

“We are proud of our collaboration with EXIM, honoured by this recognition and appreciative of the work EXIM has done to support US jobs and our growth in international markets,” adds Gulfstream senior VP for administration and general counsel Ira Berman. “Loan guarantees from EXIM help us remain competitive, promote the benefits of business aviation and deliver our innovative and technologically advanced jets around the world.”

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