Airbus CEO says all planemakers would lose from trade war

Written by on May 16, 2019

Guillaume Faury, President of Airbus Commercial Aircraft, poses during Airbus's annual press conference on Full-Year 2018 results in Blagnac
FILE PHOTO: Guillaume Faury, President of Airbus Commercial Aircraft, poses during Airbus’s annual press conference on Full-Year 2018 results in Blagnac, near Toulouse, France, February 14, 2019. REUTERS/Regis Duvignau

May 16, 2019

LONDON (Reuters) – Airbus Chief Executive Guillaume Faury warned on Thursday that any further escalation of trade tensions would damage aerospace companies globally, including arch-rival Boeing.

The United States has threatened to impose tariffs on a range of European Union goods in a transatlantic row over mutual claims of unfair support for both Airbus and Boeing.

“Trade tensions are lose-lose tensions,” Faury told reporters on a visit to London.

He said Airbus was using the delay in Britain’s withdrawal from the European Union to “prepare for all scenarios” and reiterated that a no-deal Brexit would be the worst outcome.

He also warned of legal action against Germany over a ban on defense exports to Saudi Arabia that has disrupted the implementation of a border security contract with the kingdom.

(Reporting by Alistair Smout; Editing by Tim Hepher/Sudip Kar-Gupta)

Source: OANN

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