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Airbus seeks bailout from the government

Airbus recently pulled out from a market-based alternative to a system of government loans, which are central to a major trade row in the United States.

Prior to this, the European aircraft manufacturer has never sought support from the European government to develop its aircrafts. However, with the economic crunch all financial alternatives have been dried up.

“They had ideas three or four months ago for a more market-oriented approach, but now there is no money available,” said Germany’s State Secretary at the Federal Ministry of Economics and Technology, Peter Hintze. He continued, “The financial crisis pushed everything back. Now we are looking again at government loans.”

“Germany is willing to discuss Airbus’s next plane, the A350, using this model, if it is compatible with world trade rules,” Hintze said.