“We will not allow the global aviation market to be divided between China and the United States. France and Europe will be there,” Le Maire said.
Approximately 1.5 billion euros ($ 1.7 billion) will be allocated to research and development aimed at producing neutral carbon aircraft in 2035. “France could be a European country where tomorrow’s aircraft will be designed and manufactured,” he added. is Le Maire.
The global aviation industry will lose $ 84 billion in 2020 and an additional $ 15 billion in 2021, according to the International Air Transport Association’s forecast on Tuesday. The industry group said demand for air cargo and travel will increase sharply next year, but passenger travel will still be nearly 30% less than in 2019.
Airbus is at the heart of the European aviation industry. Headquartered in France, but s manufacturing facilities in Germany, Spain and the UK, competes with Boeing to deliver aircraft to airlines around the world.
The company secured a 15 billion-euro ($ 16.9 billion) credit instrument in March to bolster its position after the pandemic spread across Europe. The French government announced on Tuesday that it would bring waiting for military orders to pay for tanks and helicopters by Airbus.
Airbus also benefits from the assistance provided to Air France, one of its largest customers.
“The plan announced by France is a solid and real response to the challenges,” CEO Guillaume Faury said on Twitter. “It will help us mitigate the blows in the short term, preserving our ability to recover when the time comes. At Airbus, despite this crisis, we are doing everything possible to protect our business and industry.”
China’s COMAC is trying to break the duopoly enjoyed by Airbus and Boeing, but its single-pass C919 plane has lagged behind the plan, and it could be many years before the company produces an aircraft that can challenge rivals.
– Hanna Ziady and Eoin McSweeney contributed to the reporting.