Airbus EIB

Airbus Group has secured €500m finance from the European Investment Bank (EIB) to support its R&D activities in France.

Since 2011, EIB has provided €1.3bn to Airbus Group for research, development and innovation.

Airbus Group chief financial officer Harald Wilhelm said: "We highly appreciate this latest commitment from the EIB, which is one of Airbus Group’s key financing partners.

"Both the EIB and Airbus Group share a common goal when it comes to increasing innovation and improving efficiency in the European aerospace industry."

"The development of increasingly innovative technologies is crucial for the economy and for competitiveness."

Airbus plans to use the funds to develop innovative products, which could help reduce the aviation industry’s environmental impact in terms of the energy efficiency of aircraft.

The project will also focus on effective solutions that will impact aeronautical design and production such as improving aircraft aerodynamics and optimising passenger comfort and safety.

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EIB vice-president Philippe de Fontaine Vive said: "This loan is of symbolic importance, demonstrating our priority commitment to innovation in Europe.

"The development of increasingly innovative technologies is crucial for the economy and for competitiveness."

The financing to Airbus is among EIB’s large-scale loans for innovation projects in Europe. In 2014, the bank provided around €2bn for projects in France.

The European Investment Bank (EIB) is jointly owned by member states of the European Union, and it provides finance support for projects that contribute to the achievement of the EU’s key objectives.

Image: Airbus and EIB officials at the signing of finance contract. Photo: courtesy of Airbus Group.