Airlines Sue To Stop Ex-Im Bank's $3.4B Loan To Air India

Law360, New York (November 16, 2011, 10:06 PM EST) -- The Air Transport Association of America Inc. sued the Export-Import Bank of the U.S. on Wednesday, claiming its recent approval of $3.4 billion in loans for financially troubled Air India Ltd. violates the bank's charter and hurts the U.S. domestic airline industry.

In a complaint filed in District of Columbia federal court, the industry trade organization said the bank's decision to approve the loans that would allow Air India to buy 30 Boeing Co. airplanes violates its statutory obligation to consider the creditworthiness of its guarantee...
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