Government finances sale of Bombardier C Series to Korean Airlines

UKEF finances the sale of Bombardier C Series to Korean Airlines
A Bombardier C Series pictured in 2013. (Yan Gouger/Wikimedia Commons)

UK Export Finance (UKEF) will provide financing for a Korean Airlines purchase of Bombardier C Series aircraft, the Government announced on March 9, 2018.

Of the move, Baroness Fairhead, Minister of State for Trade and Export Promotion said,

This represents a double-first; it is the first time that UKEF has supported a C Series aircraft sale from Bombardier, who are a major investor and employer in Northern Ireland, and it is the first sale of the C Series to an Asian airline.

According to the official announcement, UKEF partnered with Export Development Canada to finance the sale of two planes to the Korean carrier. Further, the two agencies plan to continue to work together to finance more sales of Bombardier aircraft to Korean Airlines through 2018.

The news comes in the wake of a corporate welfare-fueled trade dispute between Canada, the US and Brazil, over Canadian support the C Series aircraft.

Source: UKEF supports export of Bombardier aircraft made in Belfast – GOV.UK