US Ex-Im reopens after being suspended earlier this year

The US Export-Import Bank has been reauthorized to open for a further five years, after closing earlier this year.

One of the biggest companies to be effected by the closure was Boeing, which produced a knock on effect to many African carriers.

Airlines such as Ethiopian Airlines and Comair warned Boeing that the closure of the Ex-Im would jeopardise the delivery of Boeing jets already ordered, as the bank financed and insured purchases of US-manufactured goods for customers unable to accept the credit risk.

President and CEO of Boeing, Dennis Muilenburg, has released a statement this week on the reopening of Ex-Im: “By reopening the Export-Import Bank, Congress has taken strong action enabling American exporters and the skilled workers they employ to compete successfully in tough global markets. With these votes, Congress did the right thing for workers at companies large and small across the nation, including the 1.5 million workers at nearly 15,000 U.S. companies that help Boeing design, make and support America's aerospace exports."

African carriers with Boeing aircraft on order will now be able to borrow from the Ex-Im bank for capital investment as originally planned.