Airlines Want Ban On $3B Ex-Im Bank Loans To Air India

Law360, Washington (January 6, 2012, 8:31 PM EST) -- The Air Transport Association of America Inc. told a federal judge Friday that a preliminary injunction barring the Export-Import Bank of the U.S. from making $3.4 billion in loans to the financially troubled Air India Ltd. is necessary to prevent major harm to the association's members.

In its November complaint, the industry trade organization, now called Airlines for America, 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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.