WTO releases Boeing report
The World Trade Organization (WTO) has found that Boeing received illegal state, local and federal subsidies.
Airbus leaked preliminary contents of the report in January, saying that the report confirms that Boeing has been given an unfair advantage in the industry. According to a company press release, Airbus has reiterated its claims of foul-play, saying the Boeing subsidies have caused "Airbus to lose $45 billion in sales."
The report, Airbus' statement continues, confirms that Boeing couldn't have launched its 787 without illegal help and the company received more than $7 billion in illegal funds, an amount that has stifled competition in the industry.
"Airbus is pleased with the findings of the WTO report, but understands that the European Commission may appeal a number of issues relating to legal interpretation," the company's statement concludes. "Airbus fully supports the European Commission in this respect."
Boeing has its own interpretation of the findings. It says the report rejected about 80 percent of the claims that Boeing received improper support. Officials at Boeing also said that Airbus received more than $20 billion in illegal funds versus Boeing's $2.7 billion.
"This WTO ruling shatters the convenient myth that European governments must illegally subsidize Airbus to counter U.S. government assistance to Boeing," J. Michael Luttig, Boeing's executive vice president and general counsel, said in a statement.