Introduction

On February 25 2011 the rules governing the financing that export credit agencies can provide for the purchase of aircraft changed. The new rules apply to all forms of official state support for export credits and set out the most favourable terms allowed for aircraft financings supported by the export credit agencies of members of the Organisation for Economic Cooperation and Development (OECD), and Brazil.(1) The objective of the new rules is to:

"encourage competition among exporters based on quality and price of goods and services exported rather than on the most favourable officially supported financial terms and conditions."(2)