Airbus companies may need state aid for a new aircraft program, according to executive

The CEO of the aerospace giant Airbus, Guillaume Faury, has admitted that the group "could need some support" from European governments for a new program of commercial aircraft to replace the A320, the economic newspaper "Financial Times" (FT) reports this Tuesday

Airbus companies may need state aid for a new aircraft program, according to executive

The CEO of the aerospace giant Airbus, Guillaume Faury, has admitted that the group "could need some support" from European governments for a new program of commercial aircraft to replace the A320, the economic newspaper "Financial Times" (FT) reports this Tuesday. ).

In an interview with the FT, the manager indicated that Airbus could request taxpayer support in order to launch a single-aisle and a hydrogen aircraft.

He explained that the company had the financial power to finance the development of both programs thanks in part to its strong order book, but added: "we could use some support."

Disputes over state support for Airbus and its American rival Boeing have caused transatlantic tensions in the past, the newspaper recalls, adding that this year European capitals have confronted Washington over subsidies from the $369 billion climate law. by Joe Biden.

Airbus is receiving some research funding from European governments to explore technologies for a plane that could replace the A320 narrowbody jet in the second part of the next decade, and is also working on a shorter-range hydrogen-powered plane expected between in service in 2035.

None of the programs have yet been formally launched, a process that will require millions in funding, highlights the FT.

Faury explained that he was "committed" to a previous financing model in which European governments provided loans to build new aircraft, repayable when certain order levels were reached.

"We need to find acceptable mechanisms to incentivize private sector investment and share risks with governments to support the design and development of new aircraft programs that contribute to the decarbonization of the aerospace sector," he said.