Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

WTO report on Airbus due next week -trade sources

Published 06/25/2010, 12:37 PM
Updated 06/25/2010, 12:38 PM

* Report on Airbus subsidies to be published on Wednesday

* Sources say some EU aid found to be illegal

By Jonathan Lynn

GENEVA, June 25 (Reuters) - A World Trade Organisation report on aid for European planemaker Airbus, expected to condemn the European Union for illegal subsidies, will be published on June 30, trade sources said on Friday.

The 1,000-page report was issued confidentially to the European Union and United States in March, and sources familiar with it said at the time a panel of WTO experts had found some of the aid challenged by the United States was prohibited export subsidies and must be stopped within 90 days.

They said the document, the latest stage in a decades-long transatlantic dispute over the multi-trillion-dollar market for large passenger aircraft, would back many of the U.S. complaints.

The EU is likely to appeal against the ruling, delaying the point at which it takes force. Brussels says the Airbus findings are only part of the picture and it is premature for one side to claim victory.

The WTO is expected to issue an initial confidential report to the parties in a countersuit brought by the EU against the United States over support for Airbus rival Boeing next month.

Boeing hopes the report on Airbus will stop the EU from subsidising the new A350 plane, which will compete with the U.S. company's 787 Dreamliner.

Boeing and Airbus parent EADS are competing for a $50 billion contract to supply the U.S. Air Force with new tankers. The EADS offering is based on the Airbus A330, one of the planes that received aid challenged by the United States. (Editing by Stephanie Nebehay and Andrew Dobbie)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.