June 24 Delta Air Lines Inc's CEO is
expected to support the U.S. Export-Import Bank's assistance for
sales of Boeing Co's widebody jets, softening his stance
at a time when critics are mounting pressure to wind down the
agency, the Wall Street Journal reported.
Delta Airlines has long argued that Ex-Im Bank financing
allows foreign competitors to buy Boeing planes on better credit
terms than it can obtain.
Delta's chief executive, Richard Anderson, plans to use a
speech at the Aero Club in Washington, D.C. on Tuesday to
distance the company from the calls of some Republicans and
small-government advocates for the bank to be wound down, the
Journal said. (on.wsj.com/1wq8PT4)
According to a draft of the speech obtained by the Journal,
Anderson is expected to propose that the bank continue
supporting sales of Boeing widebody jets to a limited number of
airlines that lack alternative finance options, at least for as
long as rival Airbus Group NV enjoys similar backing
from European export-credit agencies.
There is a heightened scrutiny of the Ex-Im Bank as U.S.
lawmakers debate whether to reauthorize the 80-year-old agency.
The newly elected No. 2 Republican in the House of
Representatives said on Sunday he opposed renewing its charter.
Anderson is expected to emphasize in his speech that he
doesn't want Ex-Im to shut down, arguing that the bank has a
vital role in preserving U.S. manufacturing jobs, the daily
The Export-Import Bank backed $37.4 billion in exports in
2013. Scrapping the bank would be a blow to Boeing, Caterpillar
, General Electric and other U.S. companies that
rely on Ex-Im financing to make sales in export markets where
commercial lending is scarce.
Delta Air Lines representatives could not be immediately
reached for comment outside regular U.S. business hours.
(Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar