The purpose of the Export Import Bank is to help domestic businesses provide their goods and services to international buyers. This is accomplished by providing low interest, subsidized loans to the foreign party which can make up for the inherent expenses and difficulties involved with the export/import process. This, in turn, increases revenue to domestic businesses by providing them with improved international trade capabilities.
As with any financial program of this scale, it has its downsides. Delta Airlines CEO, Richard Anderson, is not a fan of this program because it is providing foreign airlines with Boeing aircraft for much lower rates than what Delta Airlines has to pay. This, in turn, allows Delta's foreign competitors to provide flights on the same quality aircraft for less cost to the customer.
Aviation is a uniquely global industry. Air travel is becoming more essential worldwide and the United States still leads the world in quality aircraft design, innovation, and production. We definitely don't want to hurt our aircraft manufacturer's ability to sell their products worldwide, but we also don't want to put our domestic airlines at any sort of disadvantage in such a competitive world. Perhaps, in order to keep our worldwide businesses from falling behind we could offer them the same low interest loans for the percentage of their fleet which operates abroad. This could potentially minimize profit loss to domestic banks by keeping the airline's domestic operations at the same interest rates while also allowing the airlines to stay competitive internationally.
I can understand completely why Richard Anderson would not like the idea of this. It’s going to put US companies at a disadvantage due to how much more they are going to have to pay to run as a company which is going to make their competitors much more appealing to consumers….
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