Long-haul carrier Emirates signals it will hold off on major Airbus purchase over engine worries
Long-haul carrier Emirates has signaled it will hold off on a major purchase of Airbus A350 aircraft over concerns about their Rolls Royce engines, marking a major blow for the European manufacturer as it hopes to close the sale during the Dubai Air Show.
EU, US agree to suspend tariffs over Airbus-Boeing dispute
FILE - In this Thursday, Feb. 25, 2021 file photo, European Commission President Ursula von der Leyen speaks during a media conference in Brussels. After U.S. President Joe Biden and EU Commission chief Ursula von der Leyen spoke, both sides decided to suspend tariffs used in the longstanding Airbus-Boeing dispute for the next four months. Von der Leyen called it โa very positive signal for our economic cooperation in the years to come.โAd"This is excellent news for businesses and industries on both sides of the Atlantic,โ she said. In the aircraft dispute, the U.S. was allowed to impose tariffs on $7.5 billion of EU exports to the U.S and as a result of the deal, EU tariffs will be suspended on $4 billion of U.S. exports. The move came only a few weeks after international arbitrators gave the EU the green light for such punitive action.
Airbus lost $1.3 billion amid pandemic; expects better 2021
European plane maker Airbus lost 1.1 billion euros ($1.3 billion) amid an unprecedented global slump in air travel because of the pandemic, but expects to deliver hundreds of planes and make a profit this year. (AP Photo/ Francois Mori, File)PARIS โ European plane maker Airbus lost 1.1 billion euros ($1.3 billion) last year amid an unprecedented global slump in air travel because of the pandemic, but expects to deliver hundreds of planes and make a profit in 2021 despite uncertainty about when people will resume flying en masse. The dispute has led to billions of dollars in tit-for-tat cross-Atlantic tariffs on planes, cheese, wine, video games and other products. Airbus sales were down to 49.9 billion euros from 70 billion euros the year before. Airbus delivered 566 aircraft last year and expects to deliver about the same number this year, the company said.
Cable trouble dogs spacewalkers in European lab upgrades
In this image taken from NASA video, NASA astronaut Mike Hopkins works outside the International Space Stations European lab on Wednesday, Jan. 27, 2021. Hopkins and Victor Glover went spacewalking Wednesday to install a high-speed data link outside the International Space Stations European lab and connect cables for an experiment platform awaiting activation for almost a year. (NASA via AP)CAPE CANAVERAL, Fla. โ Spacewalking astronauts encountered cable trouble Wednesday while attempting to make improvements to the International Space Stationโs European lab. Elsewhere on the lab, Glover could not hook up all the power and data cables on a science research platform that's been awaiting activation for almost a year. Hopkins and Glover will perform a second spacewalk on Monday to complete battery upgrades to the stationโs solar power grid.
EU puts tariffs on US but hopes for change with Biden
European trade ministers agreed on the move a few weeks after international arbitrators gave the EU the green light for such punitive action. โThe United States is disappointed by the action taken by the EU today,โ said U.S. Trade Representative Robert Lighthizer. After Trump also imposed tariffs on EU steel and aluminum and threatened punitive duties on cars, the Europeans had hoped that he would hold fire on the tariffs related to the Airbus-Boeing dispute. Asked why the EU didnโt wait until Trump leaves office, Altmaier said: โThe U.S. tariffs have already been valid for over a year. Dombrovskis welcomed Bidenโs commitment to international alliances, the multilateral system and to improving ties with the EU.
Airbus reports new pandemic losses, but stops bleeding cash
PARIS โ Struggling plane maker Airbus says new European virus lockdown measures are making its life โa bit more difficult,โ as it announced 1 billion euros ($1.16 billion) in pandemic-related losses for the third quarter Thursday amid a slower-than-expected recovery in air travel. โWe will have to live with the circulation of the virus for long period of time,โ he said. It maintained its forecast that air traffic wonโt return to 2019 levels until 2023-2025. Faury said the company โ one of Europe's leading manufacturers โ isnโt currently planning further job losses on top of 15,000 already announced as a result of the pandemic, but said, โthere is so much uncertainty we have to remain very humble.โAnd he expressed concern about struggling Airbus suppliers. Airbus announced 1 billion euros in โCOVID-related chargesโ and posted a loss of 767 million euros for the third quarter, compared with a profit of 989 million euros a year earlier.
The Latest: India's downward trend in new cases continues
(AP Photo/Channi Anand)NEW DELHI โ India has reported 48,648 new coronavirus cases, continuing a downward trend in infections even as the countryโs caseload has crossed 8 million and is only behind the U.S. The country confirmed 808 new cases on Thursday, bringing the cumulative COVID-19 cases to 100,334, including 712 cases found on a cruise ship earlier this year, according to the ministry figures. About one-third of the cases come from Tokyo, where 221 cases were confirmed Thursday, bringing a prefectural total to 30,677, with 453 deaths. Italy added a record number of new confirmed cases Thursday at more than 26,000. ___LONDON โ The World Health Organization says Europe had a record 1.5 million confirmed coronavirus cases in the last week and has reached 10 million of the 44 million global cases.
WTO says EU can put tariffs on $4 billion of US goods
GENEVA โ International arbitrators said Tuesday that the European Union can impose tariffs and other penalties on up to $4 billion worth of U.S. goods and services over illegal American support for plane maker Boeing. It comes a year after another ruling authorized the United States to slap penalties on EU goods worth up to $7.5 billion - including Gouda cheese, single-malt whiskey and French wine - over the bloc's support for Boeing rival Airbus. Now the EU can have its own turn at trade punishment, and has already been considering which American products it could target. The U.S. argues that those tax breaks ended this year, eliminating any basis for the award. The WTO arbitrators said that the lifting of the tax breaks was not enough to prevent the award in favor of the EU.
Airbus moves to end 16 years of litigation, end US tariffs
European planemaker Airbus says it is taking the last step to end 16 years of litigation with the United States at the World Trade Organization over subsidies. The Trump administration used the case as justification to slap tariffs on $7.5 billion worth of European exports. The U.S. tariffs covered not only Airbus planes but also a range of typical European exports, from gouda cheese to single-malt whiskey. Airbus said Friday that it had agreed to make changes to this system of financial support. After 16 years of litigation at the World Trade Organisation, this is the final step to stop the long-standing dispute and removes any justification for U.S. tariffs, the company said.
France announces $16.9 billion in aid to aviation industry
France's government has announced 15 billion euros ($16.9 billion) in aid for the virus-battered aerospace industry, including plane maker Airbus and national airline Air France. (AP Photo/ Francois Mori, File)PARIS Frances government announced 15 billion euros ($16.9 billion) in rescue money on Tuesday for the pandemic-battered aerospace industry, including plane maker Airbus and national airline Air France. It also includes a special fund jointly financed by the government, Airbus and other big manufacturers to support small suppliers. It includes 7 billion euros in loans and loan guarantees that the government had already promised to Air France, whose planes were almost entirely grounded by the virus. The government predicted it will be 2023 before the industry reaches pre-crisis levels.