WTO says EU failed to rein in Airbus subsidies


SEPANG, 15 Sept -- AirAsia menyambut ketibaan pesawat terbarunya yang tiba di Lapangan Terbang Antarabangsa Kuala Lumpur (KLIA) hari ini iaitu Airbus A320neo, dilengkapi dengan enjin CFM International Leap-1A. A320neo ialah pesawat satu lorong yang juga paling cekap dari segi penggunaan minyak dan paling laris di dunia. -- fotoBERNAMA (2016) HAK CIPTA TERPELIHARA

GENEVA: The World Trade Organisation (WTO) on Thursday said the European Union had failed to rein in billions of dollars in subsidies to planemaker Airbus, prompting Washington to call for an immediate halt to support that it says hit US jobs.

The ruling is part of a series of tit-for-tat transatlantic complaints about aircraft subsidies that together make up the world’s largest trade dispute, still raging after 12 years of bitter arguments.

The WTO said the EU had failed to comply with earlier rulings by the global trade body against all but two of 36 contested measures, including billions of dollars of European government loans to Airbus stretching back decades.

The loans were a “genuine and substantial” cause of significant lost sales for its competitor Boeing, it said.

In a blow to Europe’s long-held argument that the most recent Airbus jet, the A350, fell outside the case, the WTO said funding for the jet had been subsidised but rejected US claims that it fell into the most serious category of “prohibited” aid. - Reuters


The Star Christmas Special Promo: Save 35% OFF Yearly. T&C applies.

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Bursa Malaysia higher at midday on ringgit's strength
EP Manufacturing unit inks assembly agreements with XPeng
Kenanga IB ups stake in Halogen Capital in latest funding round
Orkim shares climb with institutional investors taking substantial stake
Foreign buyers extend net buying in Asian markets
China's factory output, retail sales weaken in November
Oil rises on fears of supply disruption as US-Venezuela tensions escalate
Ringgit maintains upward trend, trade firmer against US$
Stocks slip as traders reduce exposure ahead of central bank meetings, key data
FBM KLCI slips after previous-week rally

Others Also Read