Indonesia’s Lion Air is buying 230 Boeing jets, and as you’ll see below, President Obama is pushing hard to be named “Salesman of the Month.” Obama didn’t just pat himself on the back — he said he deserved a gold watch for helping close the deal:
Flying under the radar though is the usual devil in the details: It’s US taxpayers who deserve the gold watches for the sale:
How do you stump up the money for a $22 billion aircraft deal?
The case of Indonesia’s Lion Air, which signed a record order with Boeing this week, is typical of many mega-aircraft deals: with a little help from the taxpayer.
The U.S. government is offering loan guarantees to help the low-cost carrier buy 230 jets, under a system operating on both sides of the Atlantic to promote exports of strategic goods such as the jetliners built by Boeing or rival Airbus.
In theory, it means U.S. taxpayers could pick up part of the tab if the deal falls through.
It’s okay, we’re used to that.