France, Germany and UK stopped the export credit financing for Airbus due to potential check on corruption. During the last week, London stopped funding the group and send a signal to the Bureau of serious fraud after Airbus Group said it found serious omissions in the declarations of overseas agents of the company. Today France and Germany joined UK into financing suspension. The two leading aircraft manufacturers Airbus and Boeing, face paralysis of government funding for export after the delay of Congress in Washington stopped financing of Boeing. In Europe, Airbus remains without support for some sales from the UK, France and Germany, where there are some major factories.
Usually, individual countries give guarantees proportionate, depending on the volume of production in each of them, but they refuse to take over if one of the parties involved. Paris also stops export guarantees for Airbus Group. So far, the impact on the market is believed to be limited as the company significantly reduce its use of export credits compared to the period of financial crisis.
However, the unprecedented decision of the three countries raises doubts about the implementation of some future supply and will likely put pressure on Airbus to seek bridge financing. Airbus recently said it would revise the procedures for hiring consultants and investors warned it could lead to further trade disputes or other consequences.