TOULOUSE, France -- French Prime Minister Dominique de Villepin promised a $186 million package of loans Tuesday to help Airbus subcontractors and other companies affected by the European plane maker's troubles.Villepin promised $103 million in government loans and guarantees for Airbus suppliers from 2007-2008, and a further $83 million in funding and tax breaks for aerospace and related industries - some of which would be earmarked for research facilities in Toulouse. "We are standing by Airbus and all of its subcontractors," Villepin said during a visit to Toulouse, southwestern France, where the European jet maker is based. Villepin was visiting one of Airbus's subcontractors.
Airbus suppliers have been affected by a costly two-year production delay on the superjumbo A380. The jet maker and its parent company European Aeronautic Defence and Space Co. have blamed wiring problems for the holdups, which are set to wipe $6.2 billion off profit over the next four years and are complicating plans for a still unlaunched mid-size jet to compete with Boeing Co.'s 787.
So another piece of the airbus bailout falls into place. Mods, the turkey picture, if you please. thanks.
| Of course. But in the future, put a URL in the source box please, and use a shorter title (snarky is always okay). AoS. |
