Airbus exec says time for Germany to pay A350 loan in full

Reuters

BERLIN, Oct 26 (Reuters) - Germany should pay the remaining600 million euros of a disputed development loan for Airbus's A350 passenger plane now the aircraft maker hasallocated work to German employees, an Airbus executive said.

The German government had demanded that Airbus guarantee acertain amount of the work on the lightweight A350 plane wouldbe done in Germany as a condition for paying out the remainingpart of the loan.

Chief Operating Officer Guenter Butschek told newspaperTagesspiegel Airbus had now assigned 4,000 of the A350 jobs toGermany, 250 percent more than targeted, while the German shareof development was significantly above the one-third promised.

"We have therefore far exceeded our promises and believethere is now no reason to withhold the remaining payment," hesaid in an interview published on Saturday.

"The ball is now in the government's court," he was quotedas saying.

A government spokeswoman was not immediately available tocomment on Saturday.

Butschek told the paper the A350 project was moving forwardwithout the loan and that the first plane was on track to bedelivered in the second half of 2014. The A350 is designed tocompete with Boeing's 787 Dreamliner and the largerBoeing 777.

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