U.S. Taxpayer Money Must Advance U.S. Airline Industry, Not Just Global Competitors
WASHINGTON–The Air Line Pilots Association, Int’l (ALPA), today called on the U.S. Senate to take swift action to ensure that the Export–Import Bank of the United States fulfills its legal responsibility to protect U.S. jobs when it finances foreign airlines’ aircraft.
“Aircraft financing already represents more than 40 percent of all financing granted by the Export–Import Bank of the United States,” said Capt. Lee Moak, ALPA’s president. “Ex–Im Bank financing for widebody aircraft is expected to grow rapidly in the near future, and the threat posed to the U.S. airline industry and its workers by the Bank’s using U.S. taxpayers’ money to support our nation’s competitors is very real.”
In a letter sent to U.S. senators today, ALPA asked legislators to direct the Obama Administration to negotiate with the five European countries whose export credit agencies support Airbus aircraft sales with the goal of eliminating export credit agency financing of widebody aircraft. This would eliminate credit agency financing of both Airbus and Boeing widebody aircraft and allow all airline purchasers to compete for financing on a level playing field.