Airbus CEO says all planemakers would lose from trade war

Business

FILE PHOTO: Guillaume Faury, President of Airbus Commercial Aircraft, poses during Airbus’s annual press conference on Full-Year 2018 results in Blagnac, near Toulouse, France, February 14, 2019. REUTERS/Regis Duvignau

LONDON (Reuters) – Airbus Chief Executive Guillaume Faury warned on Thursday that any further escalation of trade tensions would damage aerospace companies globally, including arch-rival Boeing.

The United States has threatened to impose tariffs on a range of European Union goods in a transatlantic row over mutual claims of unfair support for both Airbus and Boeing.

“Trade tensions are lose-lose tensions,” Faury told reporters on a visit to London.

He said Airbus was using the delay in Britain’s withdrawal from the European Union to “prepare for all scenarios” and reiterated that a no-deal Brexit would be the worst outcome.

He also warned of legal action against Germany over a ban on defense exports to Saudi Arabia that has disrupted the implementation of a border security contract with the kingdom.

Reporting by Alistair Smout; Editing by Tim Hepher/Sudip Kar-Gupta

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