Boston, MA 06/24/2014 (wallstreetpr) – Delta Air Lines, Inc. (NYSE:DAL) CEO is anticipated to support the U.S. Export- Import Bank in continuing to provide assistance in selling The Boeing Company (NYSE:BA) jets.
According to a Wall Street Journal, Delta Air Lines’ Chief Executive Officer and Director Richard H. Anderson may propose that the bank should continue the assisting the sales of Boeing widebody jets. While critics are strongly opposing the bank’s assistance, saying that the bank should expire, Delta’s opinion is favoring quite the opposite. It has been arguing that the bank’s financial aid allows foreign competitors to acquire Boring planes easily.
Anderson’s Speech
The Journal cited a draft of a speech that Anderson plans to use at the Aero Club in Washington, D.C. With his speech, he seeks to bid Delta Air Lines, Inc. (NYSE:DAL) to oppose the view of some Republicans and government advocates who favor shutting down of the bank. According to the Journal, Anderson’s speech proposes that the bank goes ahead with its current activities, selling Boeing widebody jets to a restricted number of airlines that do not have enough financial backing. It is believed that Anderson’s opinion is based on the fact that some foreign airlines, including Airbus Group NV (EPA:AIR), have similar support from Europe based export credit agencies. In addition, he also believes that the bank helps create more U.S. based manufacturing job opportunities in the market.
Strict Scrutiny
The U.S. Export- Import Bank is undergoing strict inspection as lawmakers of the country are adamantly arguing in favor of the shutting down of the Bank. The House of Representatives’ recently nominated No.2 Republican also said on Sunday that he opposes the reauthorization of the bank.
In 2013, The U.S. Export- Import Bank supports as much as $37.4 billion in exports. Considering this, it is anticipated that if the bank retires, companies including Boeing, Caterpillar Inc. (NYSE:CAT), General Electric Company (NYSE:GE), will receive a severe blow.
