EXIM Financing For Idaho-based Manufacturer Of Kodiak 100 Aircraft
By Cyber Era Reporter
The Export-Import Bank of the United States (EXIM) is providing a medium-term loan guarantee to support the export of a Daher Kodiak 100 aircraft, made in Sandpoint, Idaho, to Costa Rica Green Airways SRL. The guaranteed lender is Apple Bank in New York. The EXIM-backed export was facilitated by AirFinance Leasing LLC, an EXIM Qualified Advisor.
The transaction (approved by EXIM in 2019, but which recently reached financial closure) is EXIM’s first financing in support of an export of the Kodiak 100 – a single-engine short-takeoff and landing turboprop-powered aircraft capable of bringing passengers, cargo, and heavy supplies to remote areas. The aircraft was manufactured in Sandpoint by a small business, Kodiak Aircraft, which has been acquired by the Daher Group.
“This is an example of how EXIM’s medium-term support can make the difference in facilitating exports of U.S.-made capital equipment by helping companies offer financing to their international customers and sustaining local manufacturing jobs in the United States,” said EXIM Chief Banking Officer Stephen Renna.
“With this financing, EXIM is helping Kodiak Aircraft to support approximately 250 local jobs in northern Idaho,” said the CEO of Kodiak Aircraft, Nicolas Chabbert. “The assistance from EXIM opens doors to further expand Kodiak sales worldwide by facilitating our outreach to international customers. We look forward to working with EXIM on additional export sales.”
AirFinance Leasing LLC submitted the application on behalf of the Costa Rican airline operator. Costa Rica Green Airways will use the aircraft primarily to transport tourists to remote coastal areas, as well as for other passenger service.
Under the Qualified Advisor Program, initiated with AirFinance in 2012, EXIM leverages private-sector expertise by allowing qualified industry experts to assess credit risks and expedite EXIM-supported foreign-buyer financing for business aircraft and helicopters.
The Daher Kodiak was developed with the goal of providing access to more people and places with a reliable turbine-powered short take-off and landing aircraft. For the past decade, the 10-seat Kodiak 100 has served a wide range of public, private, business, and humanitarian applications.
The Daher Group is an aircraft manufacturer and an industry and service-equipment supplier. The Kodiak 100 being exported to Costa Rica was manufactured at the Kodiak Aircraft facility in Sandpoint, where the final assembly line is located.