UK Government has agreed to support Airbus with up to £340 million for the development of the A350 XWB.
According to a BIS statement, the support will enable Airbus to strengthen its position as a world leader in wing, landing gear and fuel integration systems technologies and ensure the UK plays a leading role in the development of the A350 XWB.
It is reported that the support 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.
Business Secretary Lord Mandelson was reported as saying: “This agreement is excellent news for the UK aerospace sector and for the thousands of British workers within Airbus and its UK-based supply chain.
Tom Enders, Airbus president and CEO, welcomed the government’s decision to invest in the A350 XWB, the most advanced, innovative, and eco-efficient aircraft in its market segment.
“This partnership with the UK government means that the UK taxpayer can expect a sound return on their investment, and ensure the aviation industry continues to thrive in Europe and around the world”, he said.