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March 24, 2010 - The World Trade Organization (WTO) has given its final ruling on subsidies the European jet aircraft manufacturer, Airbus had received.
WTO ruled that the
European governments illegally subsidized Airbus, which allowed the
manufacturer to undercut its research and development costs resulting
and overtaking Boeing sales.
"Today's final
ruling puts any doubts to rest - launch aid is an illegal subsidy that
has cost |
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"This is a powerful, landmark judgment and good news for aerospace
workers across
"We appreciate the strong bipartisan efforts by both the executive and
legislative branches of the |
"Airbus and its
sponsor governments continue to re-affirm their commitment to using
subsidized launch aid to fund the next Airbus airplane, the A350.
We urge them to change course and fully comply with the WTO's
clear ruling. The WTO panel
has painstakingly and professionally reviewed all of the evidence that's
been presented the past four years. It is extremely important to
international trade and global economic growth that governments and
businesses abide by the WTO's rules. Markets, not parliaments, should
pick the winners in the global aerospace industry."
Airbus then
released a statement regarding WTO panel report, below is their
statement.
?70 percent of the
?Past loans were
found by the Panel to contain a certain element of subsidy, a finding we
will study. Possible future funding for the A350 is not affected in any
way by today's report. US attempts to include the A350 were specifically
rejected.
?Neither European
RLI nor any other measure has caused "material injury" to any
?These results are
in stark contrast to Boeing's enthusiastic expectations announced only
last night in a statement by the company. Airbus, the EU and the
?Airbus expects
the WTO conflict to drag along for at least a few more years. As in all
other trade conflicts, resolution will finally only be found in
trans-Atlantic negotiations. Boeing's repeated rejection of European
offers for negotiation over years and again last night usurp the proper
role of the US Government and contradict the |
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