The U.S. airline industry is in “survival mode” against competition from foreign carriers, some of which are using “extreme new measures” to gain access to Americans flying internationally, said the president of the Air Line Pilots Association (ALPA). Lee Moak sounded the alarm during a May 29 press briefing that touched on the union’s hot-button issues, chief among them Norwegian Air’s application to the U.S. Department of Transportation (DOT) for a foreign air carrier permit.
Export credit agencies
The U.S. Export-Import Bank recently topped $1 billion in support of American-made business airplane and helicopter financings since the beginning of Fiscal Year 2012. In a deal that drove it past this milestone, the bank approved a guarantee of a $300 million loan extended by Apple Bank for Savings to Minsheng Financial Leasing Co. of Tianjin, China, to finance the purchase of eight business jets from Gulfstream Aerospace. At EBACE 2012, the Ex-Im Bank announced it would provide support for at least $1 billion in business airplane and helicopter financings by the end of 2014.