Got to pick a pocket or two....

The long running spat between the US and EU over government subsidies to Boeing and Airbus looks ready to come to the boil yet again. Reports have emerged suggesting that the World Trade Organisation has informally declared Airbus as being the illegal recipient of billions of dollars of financial aid. The accusation is that preferential government loans amounted to an illegal subsidy. As a counterpunch, the WTO will doubtless be investigating Boeing subsidies. There is nothing particularly new in the accusations, which have been going on for many years. What makes the saga interesting is speculation on the possible dramatic effect on both Airbus and Boeing if money has to be repaid. Airbus is already unashamedly seeking European government aid to help launch the A350. I wonder whether the WTO has the temerity to impose sanctions that would have a material effect on the ability of the two major manufacturers to conduct their business?

On a smaller scale, a collection of current and former Airbus senior executives have been publicly named as having benefitted financially from the sale of shares immediately prior to the first announcement of A380 development delays. The final ruling on penalties is still some way off, but French investigators are recommending fines that run into millions of dollars.

"I can raise no money by vile means," said Shakespeare.