ATA: Loan guarantees a structural problem affecting the entire industry

10/15/2010 | Google · Bloomberg · Fox Business

The head of the U.S. Export-Import Bank said Thursday that government-backed financing offered to Persian Gulf airlines has not distorted markets and put U.S. and European carriers at a disadvantage. "There are a lot of countervailing forces in terms of the aircraft industry, from the manufacturers to the airlines," Fred Hochberg told reporters in Dubai. "What is under discussion is how to find the most equitable way of dealing with it." In an interview with Fox Business News, the Air Transport Association Vice President, General Counsel and Secretary David Berg said, "what we have is a structural problem that affects entire airline industry. The export credit framework distorts competition, and that is a problem that needs to be corrected."

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