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France Plans Billions of Euros to Rescue Aerospace Industry

  • Plan aims to help develop cleaner jets, French minister says
  • France also aims to shield key suppliers from Chinese interest
Two Airbus A380 aircraft sit on the ground at the Tarmac Aerosave SAS storage and recycling facility against a background of the Pyrenees mountain range in Tarbes, France in 2019.

Two Airbus A380 aircraft sit on the ground at the Tarmac Aerosave SAS storage and recycling facility against a background of the Pyrenees mountain range in Tarbes, France in 2019.

Photographer: Balint Porneczi/Bloomberg
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The French government will present a plan worth billions of euros to rescue its beleaguered aerospace industry, protect key suppliers from Chinese interests and may bring forward some defense orders, the transport minister said.

The aid package to be presented Tuesday is aimed at European jet manufacturer Airbus SE, engine maker Safran SA, defense group Thales SA, and hundreds of French suppliers that have seen their businesses dry up during the coronavirus pandemic. The plan will be worth as much as 10 billion euros ($11.3 billion), Les Echos reported Monday, although it’s not clear what will be included in the total.