US airlines hit out at Boeing subsidies, Air India
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US airlines hit out at Boeing subsidies, Air India

NEW YORK - American airlines have slammed US government subsidies given to foreign rivals who buy Boeing planes and want $3.4 billion of loan guarantees given to Air India to be reconsidered, a report said Sunday.

The Wall Street Journal said US trade group the Air Transport Association in a letter to Ex-Im Bank chairman Fred Hochberg earlier this month, called on the federal agency to slash funding to international buyers of Boeing jetliners.

"The bank's support for foreign airlines injures US carriers," said ATA lawyer Michael Kellogg in the letter, the newspaper reported on its website.

The letter centered on Air India, according to the Journal, arguing that the state-owned carrier's long-running losses and management problems should bar it from US financial assistance.

The legal director of Ex-Im (Export-Import) Bank, the official export credit agency of the United States government which was established before World War II to help finance foreign purchases of American goods, said in a letter of response that it stood by its decisions and processes, the Journal reported.



(c) 2011 AFP
Published on ASDNews: Nov 14, 2011

 

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