Ex-Im Bank guarantees $500 million loan to LOT Airlines

   The U.S. Export-Import Bank has authorized a comprehensive guarantee on a $500 million loan to Polskie Linie Lotnicze LOT S.A. (LOT Airlines) for the export of a fleet of Boeing 787 Dreamliner planes to Poland.
   Apple Bank for Savings of New York extended the loan. Nippon Export and Investment Insurance of Japan is also co-financing the transaction.
   Boeing delivered the first 787 to LOT on Nov. 9 in Everett, Wash. LOT is the first European airline to operate the Dreamliner.
   LOT is the only airline that currently offers non-stop flights between the United States and Poland. The fleet of Dreamliners, which will contribute to LOT’s efforts to simplify, modernize, and upgrade its operations, will continue LOT’s non-stop North American service by flying routes to Warsaw from Chicago, New York, and Toronto.
   As of the end of fiscal year 2012, Ex-Im Bank’s credit exposure in Poland totaled $5.5 million.