September 3, 2015 - The Machinists Union (IAM)
continues to oppose Delta on key issues that
affect jobs at
U.S.
airlines. This week the IAM issued a call to
action for its 600,000 members to support a full
reauthorization of the U.S. Export-Import Bank.
The Machinists union claims the Bank’s loan
guarantees “...create U.S. jobs by helping foreign
companies buy American-made products, like
Boeing aircraft and John Deere tractors.”
However, the majority of Ex-Im’s financing goes
to airlines that are owned by governments or are
otherwise creditworthy and don’t need the Bank’s
help to purchase new aircraft. And, when the
Bank provides these airlines with a loan
guarantee, they receive below-market financing
rates, a subsidy of up to $20 million per
aircraft to compete directly against Delta and
other U.S.
airlines.
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