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Comair Limited Obtains Preliminary Commitment From Ex-Im Bank

Comair Limited to purchase 8 Boeing 737-800 aircraft

Nov 11, 2010

JOHANNESBURG - Today the Export-Import Bank of the United States (Ex-Im Bank) announced the preliminary commitment to finance the purchase by Comair Limited, a commercial airline based here, of eight Boeing 737-800 aircraft.

Comair becomes the third South African company this week that is expected to receive export financing to buy U.S. goods or services with support from Ex-Im Bank; the other companies are Transnet and Eskom.

"These transactions are great examples of Ex-Im Bank's firm commitment to help South Africa meet the country's infrastructure needs and to support purchases by both small and large companies," said Fred P. Hochberg, chairman and president of Ex-Im Bank.

Hochberg added, "These investments in infrastructure better position South Africa to continue to grow its economy and improve the lives of its citizens. We are excited to be part of these plans that move South Africa forward."

Erik Venter, joint CEO of Comair Limited, said, "We are thrilled to have secured a preliminary commitment from Ex-Im Bank to back the financing of our new fleet of Boeing 737-800 aircraft. This provides us with cost-effective financing and increases the attractiveness in the international financing market of funding our fleet acquisition. Ultimately this will ensure that South Africa maintains world class airline services."

Comair Limited to purchase 8 Boeing 737-800 aircraft
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