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Export-Import Bank CEO John Jovanovic (left) with JetZero CEO Tom O’Leary at Farnborough Airshow.
FARNBOROUGH, England—JetZero and the Export-Import Bank of the United States (EXIM) have agreed to explore up to $3 billion in potential financing support for the startup airframer’s future manufacturing campus in Greensboro, North Carolina.
JetZero broke ground on its 8 million-ft.2 factory facility in June, situated on a 600-acre site announced by JetZero in 2025. Assembly of its blended wing body demonstrator is currently underway at Northrop Grumman’s Scaled Composites site in Mojave, California, targeting first flight in the fourth quarter of 2027.
Announced at the Farnborough Airshow, a letter of interest (LOI) outlines EXIM’s potential support, establishing a framework for next steps.
“This will come under our Make More In America (MMIA) initiative, which is designed to help companies exactly like JetZero be able to build and manufacture at scale in the United States, in this case often for the first time,” EXIM Chairman and CEO John Jovanovic said. “What it's going to do is provide a credit guarantee framework where we can crowd-in more private sector lenders and capital participants.”
Project costs eligible for the MMIA financing may include the construction of manufacturing facilities, production systems and equipment, the company said. The potential support remains subject to necessary reviews, as well as approval by EXIM’s board, though efforts are underway to fast-track to the next stage, leaders shared.
“Given all of the great progress JetZero has made, we want to advance this LOI as quickly as possible to a preliminary commitment,” Jovanovic explained. “What we would have is outlined conditions precedent where, as these guys continue to perform and meet every milestone, the one thing they don't have to worry about as a constraint is capital.”
JetZero described the LOI as an important step forward. It plans to file for type certification this year and aims to enter commercial production before the end of 2030.
“There's a great big hole in the middle market that this plane goes right into, between narrowbodies and twin-aisles,” JetZero CEO Tom O’Leary said. “The main constraint that we have building a factory of this size is, of course, capital. This move by EXIM to back JetZero in our ability to bring this factory up and running and start delivering aircraft that we can certify and then deliver to market is absolutely monumental.”
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