A United States appeals court lets a two-year old decision by the United States Export-Import Bank stand this Tuesday. The decision is to fund the sale of 30 Boeing jets to Air India. Delta Air Lines brought this decision to the courts.
The decision of the appeals court was a notice for the U.S. Export Import Bank to explain its reasons and rationale for such loans. This ruling enabled both parties, which are continuing a history of debates and spatting, to claim victory on the trial.
"I am gratified by the court's recognition that these transactions should not be impeded by litigation," said the chairman and president of U.S. Export Import Bank Fred Hochberg in a statement following the court's ruling.
Delta, on the other hand, said in a statement that: "The bank now will be required to take the complaints of industry participants seriously before proceeding with potentially harmful subsidies to foreign airlines."
Delta further claims that the company was hurt by Ex-Im's policy to allow foreign carriers to purchase Boeing jets easier than the processes Delta has to go through.
Join the Conversation