Aerospace and defence company Airbus has entered agreements with the governments of France and Spain to amend the A350 Repayable Launch Investment (RLI) contracts.
Considered to be the last step to end the dispute, the agreements came following 16 years of hearing at the World Trade Organisation (WTO) and eliminates any justification for US tariffs.
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In its ruling, the WTO already considered RLI is a valid instrument for governments to collaborate with the industry by sharing investment risks.
Now with this agreement, Airbus stated that it fully complies with all WTO rulings.
Airbus CEO Guillaume Faury said: “We have fully complied with all the WTO requirements. These additional amendments to the A350 RLIs demonstrate that Airbus has left no stone unturned to find a way towards a solution.
“This is a clear signal of support to those who are suffering from the severe impact of the tariffs imposed by the USTR, especially at a time when industries are hard hit by the consequences of the Covid-19 crisis.”
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By GlobalDataThe United States Trade Representative (USTR) tariffs currently affect all targeted industry sectors, including US airlines, which are already reeling under the Covid-19 impact.
In a separate development, Airbus has delivered Airbus A321neo aircraft to Vistara, a joint venture between TATA Group and Singapore Airlines Limited.
This is the first of six A321neo for the airline, on lease by Air Lease Corporation.
Vistara’s A321neo comes in a three-class configuration, with 12 seats in business class, 24 in premium economy and 152 in economy class.
