Boeing asks US to probe EU loan to rival Airbus

Key facts

• Boeing has formally requested U.S. intervention with the EU over a €3 billion loan to Airbus.
• The loan was provided by the European Investment Bank (EIB).
• Boeing is concerned about the transparency of the loan terms.
• The company believes the loan may conflict with the recent U.S.-EU tariff truce on jet subsidies.
• The EIB described the loan as a standard financial transaction carrying interest.

Boeing has formally requested that the U.S. government intervene with the European Union concerning a €3 billion loan package extended to its rival, Airbus, by the European Investment Bank (EIB). The aerospace giant expressed surprise at the June 29 announcement, which occurred just four days after the U.S. and EU agreed to extend a tariff truce related to jet subsidies.

In a letter to U.S. Trade Representative Jamieson Greer, Boeing urged the USTR to seek a "full accounting of the terms of this loan" from the EU. The company wants clarification on how the loan aligns with the 2021 truce agreement, which stipulated an "open and transparent process."

A spokesperson for the EIB stated that the bank finances thousands of companies annually and denied offering Airbus any unusual support, characterizing the loan as a "normal loan, carrying interest, part of the EIB's overall financing activity."

Airbus and Boeing declined to comment on the matter, and neither the USTR nor the European Commission immediately responded to requests for comment.