Avianca secures up to $300 million for CFM56 engine maintenance
Avianca has arranged financing of up to $300 million with GE Aerospace and Brazilian guarantee agency ABGF for maintenance of its CFM56 engines, with work to be done at GE's Celma facility in Brazil.
Avianca has reached a financing agreement with GE Aerospace and ABGF, Brazil's guarantee agency, for maintenance of its CFM56 engines. The facility can total up to $300 million (about €257 million). Work will take place at GE's Celma maintenance operation in Brazil. Citibank structured the financing, which is backed by export credit insurance from ABGF. According to those involved, this is the first time a non-Brazilian airline has used this financing model for engine maintenance in Brazil.
Sources
- aerotelegraph.comAvianca sichert sich bis zu 300 Millionen Dollar für Triebwerkswartung