Washington: A U.S. appeals court on Tuesday let stand a 2011 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.
However, the court directed the government-run bank to better explain its rationale for the loans.
The ruling allowed both the bank and Delta, which has been engaged in a long-running spat with the Ex-Im Bank, to claim victory.
"I am gratified by the court's recognition that these transactions should not be impeded by litigation," Fred Hochberg, chairman and president of the Ex-Im Bank, said in a statement after the ruling.
18/06/13 Reuters
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However, the court directed the government-run bank to better explain its rationale for the loans.
The ruling allowed both the bank and Delta, which has been engaged in a long-running spat with the Ex-Im Bank, to claim victory.
"I am gratified by the court's recognition that these transactions should not be impeded by litigation," Fred Hochberg, chairman and president of the Ex-Im Bank, said in a statement after the ruling.
18/06/13 Reuters
