13-Mar-2012 8:14 AM

Airbus: WTO report confirms 'billions' in aid to Boeing

Airbus stated (12-Mar-2012) the report from the World Trade Organization (WTO) appellate body "confirms and even extends" previous WTO findings of US aid to Boeing. According to Airbus, the report confirms the existence of illegal subsidies to Boeing, previously identified by the WTO as at least USD5.3 billion and "extended by billions of US dollars" as a result of the latest decision. Airbus stated the aid resulted in an estimated loss of approximately USD45 billion in sales for the European manufacturer. Airbus also stated that despite earlier claims by Boeing that only minimal actions to comply with WTO rules were necessary and "it has become clear" Boeing will have to make "major changes" to comply with the final WTO ruling. [more - original PR]

Airbus: "Boeing’s cash grants are fundamentally illegal, while the system of loans to Airbus by European governments is legal and may continue. Boeing and the US now will have six months to implement the WTO decision,” Rainer Ohler, head of public affairs and communications. Source: Company statement, 12-Mar-2012.

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