AIRLINES CALL FOR CAP ON EXPORT CREDIT

A letter from a group of 24 airlines is calling for Europe and the United States to cap export credits on the sale of passenger aircraft at 20% of deliveries. The letter has been drawn up ahead of a meeting of the Organization for Economic Co-operation and Development on October 20 where governments will discuss export credit financing. The argument against cash rich and successful benefiting from export credit subsidies, Middle Eastern airline in particular, has been simmering for years but has exploding recently in the depressed economic market where US and European airlines are struggling to get competitive finance