European planemaker Airbus on Friday made what it described as a final step aimed at halting a transatlantic trade war over billions of dollars of aircraft subsidies.
Airbus said it had agreed to pay higher interest rates on government loans it received from France and Spain to help develop its A350 jet, which entered service in 2015.
It did not disclose the cost of the extra payments, which fall due whenever the plane is delivered abroad.
The government loans are among European measures that the World Trade Organisation (WTO) has deemed illegal subsidies as part of a pair of cases also targeting US support for Boeing.
Meanwhile, French Junior Industry Minister Agnes Pannier-Runacher spoke to the media after a meeting with Airbus workers’ unions representatives at the Airbus delivery centre on a visit focused on the future of the aeronautics industry on Thursday, in Colomiers, France. At the end of June, Airbus said it was planning to cut around 15,000 jobs worldwide in response to the coronavirus pandemic, which had triggered the “gravest crisis” the industry had ever seen.
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