A French emergency plan for the aerospace industry to be unveiled this week could be worth up to 10 billion euros ($11.3 billion), including an expected 1 billion euro investment fund, business newspaper Les Echos reported on Sunday.
FILE PHOTO: An A380 Airbus superjumbo sits on the tarmac where it is dismantled at the site of French recycling and storage aerospace company Tarmac Aerosave in Tarbes, southwest France, February 14, 2019. REUTERS/Regis Duvignau
That was in line with the amount cited last week by sources familiar with the proposals, who told Reuters that government and industry officials were negotiating a privately led investment fund to help small aerospace suppliers. He did not specify what that fund would cover or how much other funds might be worth, adding that the aerospace initiative would be presented this week.Djebbari said the plan would notably seek to protect aerospace firms from foreign takeovers, citing interest from Chinese firms that “are making offers at a time when they are in difficulty”.
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