Export of Boeing 787 aircraft to LOT Polish Airlines / Republic of Poland and Norwegian Air Shuttle / Kingdom of Norway

Nippon Export and Investment Insurance (NEXI: Chairman and CEO: Kazuhiko Bando) has decided to provide reinsurance on export credit provided by UK Export Finance (UKEF), the export credit agency of the United Kingdom of Great Britain and Northern Ireland (UK), for export of two Rolls Royce-powered Boeing 787-8 aircraft to LOT Polish Airlines. The provision of this reinsurance is based on the reinsurance agreement ¹ concluded between NEXI and UKEF on August 30, 2017. This will be the first transaction underwritten under the said agreement.

Parallel to the above, NEXI has also decided on a second transaction to provide reinsurance to support export of four Rolls Royce-powered Boeing 787-9 aircraft to Norwegian Air Shuttle ASA.

UKEF is providing export credit support for these Boeing 787 deliveries to support the export of the "Trent 1000" engine manufactured by UK’s Rolls-Royce Holding plc and installed in Boeing 787 aircraft. NEXI will be offering cooperation to UKEF by providing reinsurance.

The Boeing 787 aircraft launched operation in 2011 as a new aircraft boasting high efficiency. As of end of August 2017, 589 aircraft are in operation with more than 60 airlines and leasing companies around the world ².

Japanese companies take part in the joint development and manufacturing of Boeing 787 aircraft as a partner to the Boeing Company in US. Production sharing ratio of Japanese companies accounts to approximately 35% of the airframe structure, including parts such as wing box, forward fuselage, central wing box, etc. The wide involvement of Japanese companies in manufacturing Boeing 787 aircraft extends from participation in international joint development of engines installed in the Boeing 787 aircraft, to manufacturing of structural materials (carbon fiber composite materials) and aircraft parts (tires, lavatories, galleys, cabin service systems, etc.) .

The support provided by NEXI on the export of Boeing 787 aircraft in cooperation with UKEF has significance in terms of supporting international cooperative development projects for aircraft development and manufacturing through export credit.

Underwriting for these projects also has the significance of supporting the economic development of both countries and regions through improvement of transportation infrastructure in both countries and the region where demand for air transportation is rising.

NEXI will continue to actively support the international business development of Japanese companies through cooperation with external institutions through reinsurance.

Contact
　Infrastructure Group
　Structured and Trade Finance Insurance Department
　　Tel: +81-3-3512-7674

¹ For information pertaining to the signing of the One-Stop-Shop Reinsurance Agreement with UKEF, please refer to our News Release dated September 19, 2017 under Topics on our website.

² For further information please refer to the website of Boeing Company. http://www.boeing.com/commercial/#/orders-deliveries