UK Export Finance (UKEF) has agreed to provide funding for the sale of Bombardier C-Series aircraft to Korean Airlines, supporting investment and jobs in Northern Ireland.

Baroness Fairhead, the Minister for Trade and Export Promotion (pictured), said: “The UK is at the forefront of the civil-aerospace industry, and I am delighted that the Department for International Trade is backing this landmark contract, which will support the global success of Bombardier’s C-Series programme and its operations in Northern Ireland.

“This represents a double first; it is the first time UKEF has supported a C-Series aircraft sale from Bombardier, and it is the first sale of the C-Series to an Asian airline.”

UKEF (www.gov.uk/uk-export-finance)has worked in partnership with Export Development Canada (EDC) to provide the financing to support the sale to date of two C-Series aircraft, whose wings and parts of the fuselage — a significant proportion of the complete aircraft — are made at Bombardier’s site in Belfast.

UKEF has provided reinsurance support to EDC for the UK elements of the aircraft.

Michael Ryan, president of Bombardier Aerostructures and Engineering Services, said: “The C-Series aircraft is the market leader in the 100- to 150-seat segment and is subject to significant global demand.

“This aircraft has advanced carbon-fibre wings and advanced-technology fuselage sections manufactured in Belfast.

“We are very proud to have secured our first C-Series aircraft sale to an Asian airline. With the backing of UKEF and EDC, we look forward to building on this success.”

UKEF, Bombardier and EDC are planning to extend the programme, with further support likely to follow for future C-Series deliveries to Korean Airlines — scheduled for 2018.