THE UK GOVERNMENT’S Export Credits Guarantee Department (ECGD) is backing Bombardier Aerospace for the first time on several multi-million dollar contracts to supply aircraft to two US regional airlines.

ECGD has provided export credit guarantee support on two bank loans worth over U$200million to Atlantic Southeast Airlines and Comair who will be using the finance to purchase 12 aircraft from Bombardier.

Bombardier’s Belfast plant has designed and manufactured fuselage and other aircraft components for the CRJ200 and CRJ700 regional jets. The 12 aircraft  - six for Atlantic Southeast Airlines and six for Comair - are part of Bombardier’s ongoing sales programme with these airlines which are subsidiaries of Delta Air Lines.

Trade Minister Mike O’Brien said: “The aircraft sector has been through a difficult period over the last two years and new sales have been thin on the ground. ECGD support is an important element of this deal and the time and effort involved in securing the financing has been considerable.

“I am pleased that ECGD continues to do what it can to help UK exporters such as Bombardier secure business wherever possible.”

Northern Ireland Office Minister for Enterprise, Trade and Investment, Ian Pearson, welcoming the announcement, said: "For some time, my Department and officials from Invest Northern Ireland have been supporting the company in its efforts to secure this financing and this very positive development is to be warmly welcomed."

The Belfast plant designs and manufacture the forward and centre fuselage, engine casings, horizontal stabiliser and wing components for the 50-seat Bombardier CRJ200. For the 70-seat Bombardier CRJ700, it designs and manufactures the forward and centre fuselage and engine casings.

Notes to Editors

1.ECGD, the Export Credits Guarantee Department, is the UK’s export credit agency. A separate Government Department reporting to the Secretary of State for Trade and Industry, it has more than 80 years’ experience of working closely with exporters, project sponsors, banks and buyers to help UK exporters of capital equipment and project-related goods and services. We do this by providing:

• Help in arranging finance packages for buyers of UK goods by guaranteeing bank loans;
• Insurance against non-payment to UK exporters; and,
• Overseas Investment Insurance - a facility that gives UK investors up to 15 years’ insurance against political risks.

2. For more information on ECGD products visit the website at www.ecgd.gov.uk.

Press Enquiries:

Azara Bibi, ECGD Press Office, Tel: 020 7512 7421

(Out of Hours:  07790 887852)