Boeing urges U.S. to press EU on €3B Airbus loan transparency

• Boeing has requested the U.S. government press the European Union for transparency regarding a €3 billion ($3.43 billion) loan package granted to Airbus.
• The request questions the loan's compatibility with a 2021 tariff truce agreement, which mandated an "open and transparent process".
• The European Investment Bank defended the transaction as a normal, interest-bearing loan, denying any unusual support for the aerospace manufacturer.

Boeing (NYSE:BA) has formally asked the U.S. government to press the European Union for transparency over a €3 billion ($3.43 billion) loan package recently granted to rival Airbus.

The request threatens to resurface trade tensions between the U.S. and EU just days after the two sides agreed to extend a tariff truce over commercial jet subsidies.

In a letter directed to U.S. Trade Representative Jamieson Greer, Boeing expressed surprise at the loan announcement, which was made by the European Investment Bank (EIB) on June 29.

The loan was disclosed merely four days after the EU backed the extension of the subsidy truce.

Boeing has requested that the USTR seek a "full accounting" of the loan's terms from the EU and an explanation of its compatibility with the 2021 truce agreement, which explicitly called for an "open and transparent process".

The EIB responded by stating it finances thousands of companies annually and denied providing Airbus with any unusual support.

"This is a normal loan, carrying interest, part of the EIB's overall financing activity," an EIB spokesperson commented.