Kenya Airways Gets First Dreamliner Aircraft The African Export-Import Bank (Afreximbank) says Kenya Airways has successfully executed the second phase of a $1.9bn (about N176bn) aircraft purchase transaction arranged by it. This is contained in a statement by Afreximbank on Tuesday in Lagos. The bank said Kenya Airways would take the delivery of its first Boeing 787-800 ‘Dreamliner’ next generation aircraft in Seattle, US on April 1. According to the bank, the phase involves the delivery of 10 Boeing aircraft, comprising nine 787-800 ‘Dreamliners’ and one 777-300ER jet to Kenya Airways. “The deal is part of the 20-aircraft purchase transaction for which Afreximbank is the mandated lead arranger. “During the first phase, which ended in November 2013, Afreximbank delivered 10 Embraer-190 aircraft to the airline as part of a delivery schedule that began in August 2012. “The Boeing delivery financing, for which Afreximbank is the global coordinator, comprises a senior US-Exim guaranteed tranche and a commercial tranche. “Afreximbank is committed to supporting transactions that further Africa’s integration,” the statement quoted Jean-Louis Ekra, President of the Afreximbank, as saying. Ekra said the bank believed the delivery would enable Kenya Airways strengthen and expand its route network across the continent. He said the transaction was part of the first phase of Kenya Airways’ fleet upgrade and a key component of its 10-year business plan from 2012 to 2021. The News Agency of Nigeria reports that Afreximbank is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organisation, and the Charter, which governs its corporate structure and operations. Since 1994, Afreximbank has approved almost $30bn in credit facilities for African businesses, including about $3.5bn in 2013. Afreximbank is headquartered in Cairo, Egypt. Punch.
Posted on: Tue, 01 Apr 2014 13:09:23 +0000
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