Skip to main content
Advertising

Originally published June 18, 2013 at 1:00 PM | Page modified June 19, 2013 at 11:19 AM

  • Share:
           
  • Comments (1)
  • Print

Court: Ex-Im Bank needs to explain Air India loan

A federal bank that backed a huge airplane loan for Air India will have to explain that the loan didn't hurt U.S. airlines.

The Associated Press

Most Popular Comments
Hide / Show comments
When Boeing says jump, the Feds say how high. Delta is a small fish compare to Boeing... MORE

advertising

WASHINGTON —

A federal bank that backed a huge airplane loan for Air India will have to explain that the loan didn't hurt U.S. airlines.

A lawsuit by Delta Air Lines Inc. had accused the Export-Import Bank of failing to follow a requirement that it makes sure its loans to foreign companies won't hurt U.S. competitors. The Ex-Im bank guaranteed $3.4 billion in loans in 2011 so that Air India could buy planes from Boeing Co. But Delta competes with Air India on some routes.

The Court of Appeals in Washington did not force the bank to reverse the loan guarantee, as Delta had asked. But the ruling says the bank needs to follow the law and provide more justification for the loan.

News where, when and how you want it

Email Icon

Meet the winemakers

Meet the winemakers

View video interviews, conducted by The Seattle Times wine writer Andy Perdue, profiling five of our state's top winemakers.

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►