UK launch aid for A350 XWB worth 340 million Pounds
Lord Mandelson today announced that the UK Government has agreed to support Airbus with up to £340 million repayable launch investment for the development of the A350 XWB.
Building on the New Industry, New Jobs agenda as well as our latest advanced manufacturing initiatives announced on 29 July, the support further demonstrates the government’s commitment to the our advanced manufacturing sector, as part of a balanced economy helping to build Britain’s future.
The support, drawn partially from the Government’s £750m Strategic Investment Fund, will enable Airbus in the UK to strengthen its position as a world leader in wing, landing gear and fuel integration systems technologies and ensure the UK plays a leading role in the development of the A350 XWB, as it has done on previous Airbus programmes. This support will create and sustain more than 1,200 jobs within Airbus across Filton and Broughton sites
as well over 5,000 within the supply chain across the UK.
Today’s announcement of £340m of support follows on from our commitment to provide £60m of support for GKN to design and develop the rear spar and trailing edge of the A350 XWB.
Tom Enders, Airbus president and CEO, said: "We welcome the UK government's decision to invest in the A350 XWB, the most advanced, innovative, and eco-efficient aircraft in its market segment. This partnership with the UK government means that the UK taxpayer can expect a sound return on their investment, and ensure the aviation industry continues to thrive in Europe and around the world."