British backing for Airbus

BRITAIN is to back the development of Airbus all new A350 XWB to the tune of £340m repayable launch loan.  According  to Business Secretary Lord Mandelson, under whose aegis this comes, the aid will create and sustain more than 1,200 jobs within Airbus across Filton and Broughton sites as well over 5,000 within the supply chain across the UK.  The support  announcement follows on from a  commitment to provide £60m of support for GKN to design and develop the rear spar and trailing edge of the aircraft.  The UK aerospace industry is the second largest in the world behind the US.  It employs more than 100,000 people with a turnover of more than £20bn annually.  The UK accounts for more than 13% of the total turnover in the world aerospace market.  Aerospace exports from the UK were £14.3bn, making it one of the country’s biggest exporting industries.  www.berr.gov.uk

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