Ex-Im would back Airbus sales

WASHINGTON -- The U.S. Export-Import Bank would provide financing for exports of Mobile-built Airbus jetliners, according to Ex-Im Bank President Fred Hochberg. He said Wednesday during the Reuters Aerospace and Defense Summit that export financing could be provided as long as the planes are assembled in the United States and they have sufficient domestic supplier content. The bank, which supports loans for U.S. manufacturers selling products to foreign companies, is the subject of a debate in Congress over whether to renew the bank's authority to operate beyond Sept. 30. Nearly half the bank's financial exposure is for jetliners made by Boeing. But Airbus is building a final assembly line for A320s in Mobile, Ala., and will begin deliveries in 2016. It intends to sell the aircraft to U.S. airlines, but there would be no restriction against U.S. export credit support for foreign airlines buying U.S.-made Airbus planes, Hochberg said. Airbus has said the U.S. supplies more than 40 percent of its aircraft-related purchasing, including engines. (Source: Reuters, 09/10/14) Background column