UK Export Finance (UKEF) has signed a £750 million financing agreement with
GE Aerospace aimed at supporting airline engine maintenance work at the company’s facilities in Wales and Scotland, strengthening regional aerospace supply chains and safeguarding skilled jobs.
The five-year framework, signed at the Farnborough International Airshow, is described as a first-of-its-kind arrangement between UKEF and GE Aerospace. It will enable qualifying airlines to access UKEF-backed finance for engine shop visits, covering the overhaul and maintenance of commercial aircraft engines carried out at GE Aerospace’s UK maintenance, repair and overhaul (MRO) sites.
The agreement, first announced last week and valued at approximately $1 billion, is designed to simplify access to funding for airlines while supporting activity at GE Aerospace facilities that employ more than 2,000 people across Wales and Scotland.
Under the framework, airlines will be able to apply for financing with greater certainty over the level of support available for maintenance work undertaken at the UK sites. The arrangement is intended to reduce delays often associated with securing individual financing packages and allow operators to plan overhaul schedules more effectively.
UKEF said the deal demonstrates its commitment to supporting businesses that contribute to economic growth across the UK’s regions while reinforcing the country's role in global aerospace supply chains.
Tim Reid, chief executive of UK Export Finance, said: “This landmark framework shows how UKEF can work in partnership with industry leaders such as GE Aerospace, to unlock practical solutions for global customers. We are backing GE Aerospace’s world-class sites in Wales and Scotland, strengthening the UK’s position in the global aerospace supply chain, while also supporting substantial economic growth and job creation on a local level.”
The financing package is expected to benefit local suppliers and associated businesses linked to GE Aerospace’s operations, helping to sustain demand for engineering expertise and specialist manufacturing services.
For airline customers, the new funding model offers multi-year financing approved in advance, providing greater predictability for maintenance planning and fleet management. UKEF said the framework will give customers faster access to funding and a more streamlined process than traditional ad hoc financing arrangements.
Rahul Ghai, chief financial officer at GE Aerospace, said: “This new programme provides airlines with a faster, more reliable way to manage investments in engine overhauls. We are pleased to partner with UKEF on a solution that supports our customers by keeping their fleet flying and strengthens our UK operations.”
The latest agreement builds on GE Aerospace’s wider investment in its UK maintenance network. In 2025, the company announced a £14.2 million investment programme at its Wales facility, spread over three years, to enhance infrastructure and maintain its position as a key centre for supporting global commercial aircraft fleets.
The aviation sector remains one of the UK’s most significant high-value industries, underpinned by advanced engineering capabilities, research and development expertise, and extensive supply chains. Government support for the industry is focused on boosting competitiveness, encouraging investment and supporting the sector’s transition towards cleaner and more sustainable aviation technologies.
By linking export finance support directly to maintenance activity, the UKEF and GE Aerospace partnership creates a new route for airlines to fund critical engine overhaul programmes while helping secure long-term workloads at major UK aerospace facilities.