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Airbus UK 'requires further government funding'
28/03/2007
The government will need to offer further loans to Airbus UK, according to the company's managing director of the UK division Iain Gray.
Having already provided millions of pounds for the launch of the Airbus A380 superjumbo, more funding is required in order to ensure the firm's survival, he said.
Mr Gray made the announcement to the trade and industry committee after revealing thousands of job losses in the UK during February.
Part of the money will be put towards Airbus UK's Filton plant, which needs to be developed so that it can deal with the carbon fibre composites which will be used in the company's next generation of long-haul jets.
"We indisputably need government funding in terms of technology investment. It is fundamental that we secure investment in future technology," said Mr Gray.
Having already provided millions of pounds for the launch of the Airbus A380 superjumbo, more funding is required in order to ensure the firm's survival, he said.
Mr Gray made the announcement to the trade and industry committee after revealing thousands of job losses in the UK during February.
Part of the money will be put towards Airbus UK's Filton plant, which needs to be developed so that it can deal with the carbon fibre composites which will be used in the company's next generation of long-haul jets.
"We indisputably need government funding in terms of technology investment. It is fundamental that we secure investment in future technology," said Mr Gray.