A coalition of 24 airlines has proposed that Europe and the U.S. place a cap of export credits on the sale of passenger jets at 20% of deliveries. The proposal was included in a letter to Treasury Secretary Timothy Geithner ahead of an international meeting regarding the rules for financing sales of jets made by Boeing and Airbus. The airlines say they are locked out of the export credit system, which reduces costs for competitors such as Dubai's Emirates. "A level playing field for all airlines" is needed, wrote James May, president and CEO of the Air Transport Association. "There should be fair access, sensible pricing."
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