GE Aerospace and UK Export Finance have introduced a new financing framework to support airline engine maintenance at GE Aerospace’s overhaul facilities in Wales and Scotland, with UKEF expected to back up to US$1 billion in financing over the next five years.
The program is designed to provide airlines with faster access to financing for engine shop visits, replacing the need for complex, case-by-case funding arrangements. By securing multi-year financing in advance, operators will be able to better plan engine overhauls while improving cash flow and fleet availability.
Rahul Ghai, Chief Financial Officer of GE Aerospace, said: “This new program provides airlines with a faster, more reliable way to manage investments in engine overhauls. We’re pleased to partner with UKEF on a solution that supports our customers by keeping their fleets flying and strengthens our UK operations.”
The financing initiative supports maintenance performed on CFM56, GE90 and GEnx engines at GE Aerospace’s UK facilities, where more than 2,000 employees support commercial airline customers worldwide.
