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Ex-Im’s Hochberg Pledges $1 Billion Support for Executive Jets

Export-Import Bank Chairman Fred Hochberg plans to provide more financial aid to U.S. corporate jet manufacturers, branching out from a traditional support for Boeing Co. to help an industry where demand has suffered.

Ex-Im Bank support is needed to confront “intense competition” from manufacturers such as Brazil’s Embraer SA and Canada’s Bombardier Inc., who get subsidies from their home export credit agencies, Hochberg said in an interview yesterday at the Ebace corporate-jet conference in Geneva.