U.S. court lets stand Ex-Im Bank loan for Air India
WASHINGTON, June 18
WASHINGTON, June 18 (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 wide-body jets to Air India in a legal challenge brought by Delta Air Lines.
"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.