Air Transport World

US, EU carriers want export credit reform.(News Briefs)(European Union)(Brief article)

Twenty-four US and European airlines have written to US Treasury Secretary Timothy Geithner with a "Statement of Common Principles regarding the development of a new OECD Aircraft Sector Understanding agreement" aimed at reining in export credit-supported aircraft financings that the airlines claim give carriers outside the ASU regions an unfair advantage.

The statement follows a letter to Geithner from the Washington-based Air Transport Assn. in August that warned that the ability of US airlines to compete "is being profoundly threatened by a flood of official export credits for large aircraft purchases by our foreign competitors. …

Log in to your account to read this article – and millions more.