Ex-Im Bank crucial for jobs, competitiveness: Boeing

LONDON] The head of Boeing's commercial aircraft division said that he was optimistic that the US Congress would ultimately agree to reauthorise funding to the Export-Import Bank, which guarantees billions of dollars in loans to foreign buyers of its airplanes.

The Boeing executive, Raymond Conner, argued that failure to keep the bank running would risk American jobs and place Boeing at an unbeatable disadvantage to Airbus, which receives similar support from European governments.

"For us to not have the Ex-Im Bank would put us at a huge disadvantage in the marketplace for sure," Mr Conner said. "I'm optimistic. I think we've put together a pretty good coalition of businesses with solid support."