Flight International online news 08:30GMT: Airbus claims to have secured provisional launch-investment agreement for its new A350 from four states, including the UK which will be the first to confirm its participation at the aircraft’s industrial launch in early October.
Speaking during a media briefing in Paris, new Airbus chief Gustav Humbert said the airframer has secured agreement in principle for refundable launch aid from France, Germany, the UK and Spain, according to French daily Les Echos.
Under a 1992 large aircraft manufacturing resolution – still the subject of a transatlantic World Trade Organisation dispute – Airbus is able to secure up to 33% of the financing for the programme in the form of refundable loans. The total development cost of the A350 is estimated at €4.35 billion ($5.3 billion).
Airbus says the industrial launch will take place during the first half of October.
Humbert is cited as saying that details of the UK investment agreement will be unveiled at this launch and that accords from the remaining participating states will follow “two or three months” later.
A spokesman for the UK Department of Trade and Industry would not confirm the Airbus claim: “We are still seriously considering the application, but we can’t yet say whether we will decide to make the investment. The details of the application and timing are confidential.”
LONDON
Source: Flight International
