| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/09/957 (18.06.09) |
| Publication Date | 18/06/2009 |
| Content Type | News |
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The European Commission approved, under EC Treaty state aid rules, a repayable cash advance of £113.7 million (€120.59 million 1 ) that the UK plans to give to Short Brothers PLC, a 100% subsidiary of Bombardier, for the development of composite wings for Bombardier's new CSeries aircraft. Bombardier Aerospace is relaunching the CSeries project, which develops a new family of commercial aircraft in the 110-130 seat range. The new composite wings are key components of this new aircraft, requiring the development of cutting-edge technologies. The proposed aid would have positive effects in terms of knowledge sharing with only a limited impact on competition. The Commission concluded that the aid was compatible with the EU Framework for state aid for Research, Development and Innovation. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/957&format=HTML&aged=0&language=EN&guiLanguage=en |
| Subject Categories | Internal Markets |
| Countries / Regions | United Kingdom |