OECD Hammers Out New Aircraft Export Credit Deal

Law360, New York (December 23, 2010, 8:13 PM EST) -- The Organization for Economic Cooperation and Development has announced that major aircraft-producing nations, including the U.S. and members of the European Union, have reached a deal to streamline the rules for state financing of commercial aircraft exports.

The preliminary approval of the Aviation Sector Understanding, which unifies the terms and conditions for export credit financing of large and regional jets, came after months of talks in Paris, the OECD said Wednesday.

The terms still have to be officially approved by the governments of the participating countries,...
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