Boeing Statement Regarding WTO's Final Decision on Airbus Subsidies
Boeing (NYSE: BA) today issued the following statement from Ted Austell, vice president, Executive, Legislative and Regulatory Affairs, regarding the anticipated final WTO decision in the U.S. case against European government subsidies to Airbus.
"We look forward to the WTO's final decision, which reportedly will be transmitted to the parties tomorrow, March 23. After years of charges and counter-charges, an independent panel that has worked tirelessly to understand all of the facts in this dispute will render its final judgment. It is an important decision that not only affects the hundreds of thousands of U.S. aerospace workers who've had to compete with an illegally subsidized Airbus, but one that will set an important precedent for the broader, global aerospace industry.
"On the eve of such an important decision, it is unfortunate and disappointing to see news reports quoting a senior German official saying that Germany is prepared to provide 1.1 billion Euros for the development of the Airbus A350 – a move that flies in the face of both the expected WTO decision and the rules-based global trading system we've all endorsed. It also is curious, although not unexpected, to see reports of Airbus calling for a negotiated settlement only 24 hours before a WTO ruling that both parties expect to uphold all of the major U.S. claims. As U.S. officials have repeatedly made clear, there's a place for negotiations, but not on programs and actions declared inconsistent with WTO obligations. Illegal European subsidies have done great harm to the U.S. aerospace industry. It's time to level the playing field and let companies compete on product, price, innovation, and customer support without market-distorting government subsidies."
