ATLANTA, July 9, 2014 – Delta Air Lines (NYSE: DAL) today issued the following statement on the recent report by the Government Accountability Office on widebody aircraft financing by the U.S. Export-Import Bank:
“The GAO’s recent study illustrates why the Export-Import Bank is in need of reform: The Bank devotes too much of its funds to finance wide-body jets purchased by foreign competitors of U.S. airlines and supports too many foreign airlines that simply don’t need the help. As the GAO found, the Bank provides foreign airlines – many of which are owned by their host governments and can obtain financing on their own – with U.S. taxpayer funded subsidies totaling as much as $20 million per aircraft. That subsidy puts our own airline industry at a competitive disadvantage and it’s why Delta believes it’s now time to end the Bank’s practice of helping creditworthy, state-owned and -supported foreign carriers purchase wide-body aircraft at the expense of U.S. airlines and American jobs.”
Delta Air Lines serves nearly 165 million customers each year. This year, Delta was named the 2014 Airline of the Year by Air Transport World magazine and was named to FORTUNE magazine’s 50 Most Admired Companies, in addition to being named the most admired airline for the third time in four years. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 333 destinations in 64 countries on six continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry’s leading trans-Atlantic joint venture with Air France-KLM and Alitalia as well as a newly formed joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with key hubs and markets including Amsterdam, Atlanta, Boston, Detroit, Los Angeles, Minneapolis-St. Paul, New York-JFK, New York-LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita. Delta has invested billions of dollars in airport facilities, global products, services and technology to enhance the customer experience in the air and on the ground. Additional information is available on delta.com, Twitter @Delta, Google.com/+Delta, Facebook.com/delta and Delta’s blog takingoff.delta.com.