Israeli carrier El Al Airlines will receive more than $190 million in financing from the US Export-Import Bank (Ex-Im) to help support its Boeing 737-900ER acquisition.
The financing was confirmed during US President Obama’s visit to Israel, marking the latest transaction in El Al and Ex-Im’s relationship that stretches back to 1960.
El Al CFO Nissim Malki welcomed the deal and confirmed the money would be used to support its 737-900ER purchase.
According to AerData, El Al has six 737-900ERs on order. It initially ordered four of the type in March 2011 and then added two more in August 2012. The aircraft will be used for expansion and to replace some of El Al’s Boeing 757s.
“This transaction will help ensure that El Al has a modern and efficient fleet that can meet the growing demands of their customer base,” Ex-Im Bank chairman Fred Hochberg said. Ex-Im said the deal will support 1,300 American jobs.