The Inter-American Development Bank today approved a US$62,250,000 loan to support the renewal of TAME Línea Aérea del Ecuador aircraft fleet.
“The program will facilitate integration and connectivity in Ecuador, especially among the country’s most isolated and disadvantaged areas, through improvements in the operations and commercial air transportation services provided by TAME,” said IDB Team Leader Esteban Diez-Roux. “The aircraft fleet will be renewed and the company’s business capacity will be strengthened.”
“Financing will be provided for the purchase of two Embraer ERJ-190AR aircraft to modernize TAME’s fleet and improve the provision of air services,” added Diez-Roux. “Improvements will lower the cost of operating and maintaining TAME’s fleet and reduce its environmental impact.”
TAME operates an average of 163 weekly domestic and crossborder flights, providing service to remote destinations in Ecuador that, due to their market size and conditions, are not attractive to private airlines. These routes, known as “social-purpose routes”, are maintained to ensure connectivity throughout the country with a major commitment to the local communities. By supporting national integration, TAME helps promote social development, business, tourism and production in Ecuador.
The loan to the airline company will have a national government guarantee. It will be for a 20-year term with a one-year grace period, at a variable interest rate.