Airbus Agrees to Amend French, Spanish Contracts to End WTO Dispute, U.S. Tariffs
July 24 2020 - 2:51AM
Dow Jones News
By Pietro Lombardi
Airbus SE has agreed with the Spanish and French governments to
change some contracts to stop a long-running WTO dispute and end
tariffs imposed by the U.S.
"After 16 years of litigation at the World Trade Organisation
(WTO), this is the final step to stop the long-standing dispute and
removes any justification for U.S. tariffs," the European jet maker
said Friday.
The parties have agreed to change the A350 Repayable Launch
Investment, or RLI, contracts to abide by parameters considered
appropriate by the WTO.
"With this final move, Airbus considers itself in complete
compliance with all WTO rulings," it said.
This decision demonstrates "that Airbus has left no stone
unturned to find a way towards a solution," Chief Executive
Guillaume Faury said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
July 24, 2020 02:36 ET (06:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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