Boeing asks US to intervene over record EU loan to Airbus

Boeing has asked the US government to press the European Union for transparency over a package of US$3.43 billion (HK$26.75 billion) of loans to Airbus, resurfacing potential trade tensions days after the two sides extended a tariff truce over jet subsidies.

In a letter to US Trade Representative Jamieson Greer, seen by Reuters, Boeing said it had been surprised by a June 29 announcement from the European Investment Bank, the EU lending arm, just four days after the EU backed the truce extension.

It asked the USTR to request a "full accounting of the terms of this loan" from the EU and to explain why it was compatible with the 2021 truce agreement, which called for an "open and transparent process".

The EIB said it finances thousands of companies every year and denied offering Airbus any unusual support.

"This is a normal loan, carrying interest, part of the EIB's overall financing activity," a spokesperson said.

Airbus and Boeing declined comment.

The USTR and European Commission did not immediately respond to requests for comment.

Reuters

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