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