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Britain to offer only GBP350 million for Airbus A350 XWB project – report

The British Government will announce it will provide approximately GBP350 million to Airbus to develop the A350 XWB programme, according to a report in The Times. This is around half the amount the manufacturer had reportedly sought.

Britain’s Business Secretary, Lord Mandelson, is expected to make the announcement today at a visit to the Airbus Filton facility near Bristol.

Boeing meanwhile is expecting a favourable decision in the next few weeks when the World Trade Organisation (WTO) announces its preliminary decision on subsidies given to Airbus by European governments, according to a report in The Economist.

Boeing’s shares advanced 0.6% yesterday, while Airbus parent, EADS, gained 2%.

Selected Aviation suppliers’ daily share price movements (% change): 13-Aug-09