The European Investment Bank (EIB) has announced that it will provide aviation giant Airbus with a record €3 billion in funding. This is the largest corporate loan in the EIB’s history, aimed at supporting research, development and innovation in the aviation sector.
Yesterday in Brussels, Airbus signed the first tranche of €1 billion, which will form part of the overall package. The funds will be used to finance the company’s investment programme up to 2030 in key areas: civil aviation, security, defence and cutting-edge technologies.
According to the EIB, the loan will help Airbus strengthen Europe’s technological edge in the face of global competition from the US (Boeing) and China. The funding will support projects focused on the development of advanced materials, integrated systems, reducing the carbon footprint and the digitalisation of production. The work will mainly take place in France, Germany and Spain.
“This funding demonstrates that Europe can act swiftly and on a large scale to maintain its leadership in strategically important sectors,” the EIB noted.
Airbus, one of Europe’s largest employers, has long collaborated with the EIB. The bank has supported the company since the creation of its first models, including the A300. The new package is a record in terms of volume and underlines the EU’s priorities in the areas of technological sovereignty and the ‘green’ transformation of aviation.
The news has already been well received by the markets and European business circles. The remaining tranches are expected to be signed shortly as the projects are implemented.