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Boeing, U.S. Welcome WTO Report on European Union’s Airbus Loans


(CNBC)

The U.S. government and Boeing have welcomed a World Trade Organization (WTO) report that revealed how the European Union (EU) failed to stop unfair government subsidies to French plane-maker Airbus despite previous rulings by the global trade body.

The WTO also found Airbus received new illegal subsidies for the A350, which are reported to be nearly $5 billion.

In 2011, the WTO outlined specific steps for the EU to withdraw government financial support for Airbus, which included subsidy programs, that European states claimed were “launch aid” for the plane-maker to bring its products to market. Click here to read more.