Another aircraft financing with ECA cover

Successful sequel – BayernLB further accompanies KLM Royal Dutch Airlines in their fleet expansion in a transaction financing a brand new and highly efficient Dreamliner Boeing B787-10, again acting as MLA in a US-EXIM covered deal.

BayernLB is once again financing a widebody aircraft for KLM in an ECA-covered transaction as mandated lead arranger, sole lender and loan agent for the guarantor Export-Import Bank of the United States (US EXIM Bank), this time a 'Dreamliner' Boeing B787-10 after a Boeing B777-300ER last year.

The brand new Boeing B787-10, made largely of carbon fiber-reinforced material, is Boeing's most modern twin-engine widebody aircraft and, thanks to ETOPS certification, will also be used on intercontinental routes.

Full ECA coverage is again provided by U.S. EXIM – Bank.

"This transaction further deepens our extremely close and successful cooperation with KLM, for which we were also able to issue a RCF in Tier 1 earlier this year, " says Oliver Geldner, Sector Head Aviation & Space at BayernLB. "We are pleased to further accompany KLM on its successful path of a highly environmentally focused fleet renewal."

Founded on October 7, 1919, KLM is the oldest airline in the world still operating under its original name. With 25.8 million passengers at a very good load factor of 83.4% and over 432,000 tons of cargo in 2022, KLM and KLM Cityhopper form the core of the KLM Group. KLM currently serves 176 intercontinental and European destinations, and also offers direct connections to major economic centers around the globe. KLM is a member of the SkyTeam Alliance, a global aviation alliance. Passengers thus have even more choices, with Sky Team flying to a total of 1,088 destinations in 184 countries. The KLM Group also includes wholly owned subsidiary Transavia, the largest low-cost airline in the Netherlands, and cargo carrier Martinair.

Since the merger with Air France in May 2004, the company has consisted of one group, two airlines and three core businesses (passenger, cargo and technical and maintenance). Together with Air France, KLM plays a leading role in the European aviation industry and continues to strive for profitable growth in order to achieve both its own economic, environmental and social goals.