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Export-Import Bank Sued by Airline Group Over Air India Deal

The Export-Import Bank of the United States was sued by the Air Transport Association of America Inc., which is seeking to halt the bank’s pending deal for $3.4 billion in loan guarantees for aircraft financing to Air India.

The trade association for the largest U.S. airlines filed the lawsuit yesterday in federal court in Washington, claiming the bank didn’t seek public comments or consider the impact on the U.S. airline industry before approving $1.3 billion in loan guarantees and $2.1 billion in preliminary commitments to support the sale of 30 Boeing Co. aircraft to Air India.