Manufacturing Industry
Boeing CEO hits out Airbus subsidies
Airline Industry Information, Sept 16, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
US aircraft manufacturer Boeing has added more fuel to the row over what it claims are unfair subsides from European Union states to French-based aircraft manufacturer Airbus.
Boeing's CEO Harry Stonecipher, speaking on the eve of trade talks between the US and EU, said that European governments must stop giving airbus 'truckloads' of cash and said that what he calls 'launch aid' must stop now Airbus is a mature, profitable company.
The Chicago-based manufacturer claims that Airbus has received USD35bn in aid over the past 12 years. Airbus has hit back at the claims by citing Boeing's US government defence contracts and tax incentives as forms of state subsidies. The EU has said that it is willing to cut subsidies if the US cuts its aid to Boeing, reports The Associated Press.
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