U.S. court lets stand Ex-Im Bank loan for Air India

WASHINGTON Tue Jun 18, 2013 1:43pm EDT

An Air India Airlines Boeing 787 dreamliner takes part in a flying display during the 50th Paris Air Show at the Le Bourget airport near Paris, June 14, 2013. REUTERS/Pascal Rossignol

An Air India Airlines Boeing 787 dreamliner takes part in a flying display during the 50th Paris Air Show at the Le Bourget airport near Paris, June 14, 2013.

Credit: Reuters/Pascal Rossignol

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WASHINGTON (Reuters) - A U.S. appeals court on Tuesday let stand a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing (BA.N) wide-body jets to Air India in a legal challenge brought by Delta Air Lines (DAL.N).

"I am gratified by the court's recognition that these transactions should not be impeded by litigation," Fred Hochberg, chairman and president of Ex-Im Bank, said in a statement after the ruling.

However, the court directed the government-run bank to better explain its rationale for the loans, which Delta claimed as a victory in its long-running spat with Ex-Im Bank.

(Reporting by Doug Palmer and Karen Jacobs; Editing by Will Dunham)

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