The EU and US have reached an understanding on aircraft subsidies with the announcement of a five-year suspension of tariffs in the long-running World Trade Organisation (WTO) dispute over subsidies in the large commercial aircraft market.
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In a statement released today, Boeing said: “Boeing welcomes the agreement by Airbus and the European Union that all future government support for the development or production of commercial aircraft must be provided on market terms.
"The understanding reached today commits the EU to addressing launch aid and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment, without requiring further WTO action. Boeing will fully support the US Government’s efforts to ensure that the principles in this understanding are respected.”
ADS Chief Executive Kevin Craven said: “Today’s welcome agreement to suspend tariffs offers the opportunity to bring a permanent end to this long-running dispute at a time when the global aerospace industry faces significant economic challenges.
“A lasting negotiated settlement is the best possible outcome that will serve the interests of manufacturers in the UK, European Union and the United States, and of our customers and their passengers.”