Europe

FRENCH APPROVE EXPORT CREDIT DEAL

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FRENCH APPROVE EXPORT CREDIT DEAL

French ministers have commented that they were happy with the deal on export credit for airlines.

"The new agreement allows financial support conditions for all civil aircraft to be unified," said Christine Lagarde, economic minister, foreign trade minister Pierre Lellouche and transport minister Thierry Mariani.

"This new regulatory framework takes into account the interests of the European manufacturer Airbus, which will continue to benefit from the state guarantee in some of its exports," the French ministers said in a statement. Airbus "will be subject, as far as financing is concerned, to the same rules of the game as its competitor Boeing," they added.

The ministers said the deal would allow for a better balance between French, German and British airlines and their competitors.