June 18, 2013 / 5:44 PM / 5 years ago

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).

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

    “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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