National Air Services (NAS), a Saudi holding company focusing on executive and budget air travel, has won a US$60.5 million (Dh222.1m) loan facility with a Bahraini bank to buy six executive jets from Hawker Beechcraft in the US.
The deal was arranged through the assistance of the Export-Import Bank of the US (Ex-Im Bank), which provided export credit for the sale of the Hawker 750 aircraft.
The Ex-Im Bank’s role includes insuring foreign purchases on behalf of financial institutions, which helps to eliminate credit risks associated with loans.
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