Italian success on international markets is also the result of solid insurance-financial support, an indispensable tool for strengthening competitiveness in international markets. In this context, SACE supports Made in Italy technology in the aeronautical sector, providing its contribution to the creation of an important order with the first airline of one of the most dynamic countries in emerging Asia, Indonesia.
Thus, the SACE Board of Directors passed a resolution on 27 November a warranty on the credit line intended for the purchase of 15 ATR 72-600s, for a total value of 375 million dollars, by the Indonesian airline Lion Air. With this operation, the number of ATR aircraft purchased by Lion Air with the support of SACE rises to 37 for a total value exceeding 780 million. The interventions fall into a broader Italian-French financial support program for ATR sales, through which credit lines have so far been guaranteed for the purchase of over 250 ATR aircraft.
Lion Air, established in 2000, has experienced constant growth over the past 5 years, appearing as first operator in the Indonesian market, with a market share of more than 50%. The Group has embarked on a successful development strategy that finds two important drivers: on the one hand, in fact, the dynamism of an economy which, with GDP growth rates of 6% in 2012-2014, obtained investment grade from the main rating agencies. On the other, the very geography of a country which, with 6.000 inhabited islands and a population of 240 million people, finds in air transport an indispensable means.
