Delta Air Lines has launched a deceptive campaign against the federal government’s Export-Import Bank alleging a variety of offenses detrimental to U.S. airlines. The gist of its complaint is that Ex-Im, as it is called, helps finance exports of Boeing widebody commercial transports that might be used to compete against U.S. carriers on international routes. The argument sounds plausible until you realize that it’s cheaper for most foreign airlines to just secure financing from commercial banks, and the companies that actually do tap Ex-Im services could just as easily buy planes from Boeing’s chief rival Airbus using European export credits. The closer you look at the details of Delta’s campaign, the more it seems like a self-serving effort to improve one airline’s competitive position at the expense of the nation’s biggest exporter and the thousands of aerospace workers who might lose their jobs if Delta succeeds. I have written a commentary for Forbes that you can read here.
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