German loan boosts A3XX superjumbo jet

Associated Press

BERLIN — The German government gave a big boost to the Airbus A3XX superjumbo jet as a competitor to Boeing’s 747, promising Wednesday to back an $860 million low-interest loan to help get the project going.

The loan will help sustain 6,000 new Airbus jobs throughout Germany, including 4,000 at the company’s Hamburg plant, which will make interior components for the double-decker aircraft to be assembled in Toulouse, France.

Total development for the long-haul jet is expected to run up to $12 billion, making financial help from the four countries in the Airbus consortium essential.

Britain’s BAE Systems and Airbus’ three other partners, DaimlerChrysler’s Dasa, Aerospatiale Matra of France, and Spain’s Casa — which recently merged into the European Aeronautic Defense and Space Co. — have asked their own governments for aid.

Already, the French, German and British governments have said they will contribute up to one-third of the development costs, with low-interest loans repayable over 17 years — as stipulated by a 1992 accord with the United States that regulates launch aid for aviation projects.

So far, the British government has earmarked $830 million in A3XX aid, while France has said it would offer $1 billion by 2005. Spain has yet to detail its plans.

Boeing has derided the A3XX as redundant, saying there is no market for such a huge aircraft. The first version of the plane would seat 555 people and have a range of 8,700 miles, about the same as the 416-passenger 747-400.

Airbus expects the first A3XXs to roll off production lines by 2006.

Copyright ©2000 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

More in Local News

Snohomish residents Barbara Bailey, right, and Beth Jarvis sit on a gate atop a levee on Bailey’s property on Monday, May 13, 2024, at Bailey Farm in Snohomish, Washington. Bailey is concerned the expansion of nearby Harvey Field Airport will lead to levee failures during future flood events due to a reduction of space for floodwater to safely go. (Ryan Berry / The Herald)
Harvey Field seeks to reroute runway in floodplain, faces new pushback

Snohomish farmers and neighbors worry the project will be disruptive and worsen flooding. Ownership advised people to “read the science.”

Grayson Huff, left, a 4th grader at Pinewood Elementary, peeks around his sign during the Marysville School District budget presentation on Tuesday, Nov. 28, 2023 in Marysville, Washington. (Olivia Vanni / The Herald)
State OKs Marysville plan with schools, jobs on chopping block

The revised plan would mean the loss of dozens of jobs and two schools — still to be identified — in a school district staring down a budget crunch.

IAM District 751 machinists join the picket line to support Boeing firefighters during their lockout from the company on Thursday, May 16, 2024, in Everett, Washington. (Ryan Berry / The Herald)
Amid lockout, Boeing, union firefighters return to bargaining table

The firefighters and the planemaker held limited negotiations this week: They plan to meet again Monday, but a lockout continues.

The Trestle’s junction with I-5 is under evaluation (Kevin Clark / The Herald)
Here’s your chance to give feedback on the US 2 trestle and its future

Often feel overwhelmed, vulnerable and on shaky ground? So is the trestle. A new $17 million study seeks solutions for the route east of Everett.

Lynnwood
Suspected DUI crash injures trooper on I-5 north in Lynnwood

WSP spokesperson said two suspected impaired drivers have crashed into a state trooper in the past 24 hours.

John Pederson lifts a flag in the air while himself and other maintenance crew set up flags for Memorial Day at Floral Hills Cemetery on Friday, May 24, 2024 in Lynnwood, Washington. (Olivia Vanni / The Herald)
Volunteers place thousands of flags by veterans’ graves in Lynnwood

Ahead of Memorial Day, local veterans ensure fellow military service members are never forgotten.

People hang up hearts with messages about saving the Clark Park gazebo during a “heart bomb” event hosted by Historic Everett on Saturday, Feb. 17, 2024 in Everett, Washington. (Olivia Vanni / The Herald)
Future of historic Clark Park gazebo now in hands of City Council

On June 5, the Everett council is set to decide whether to fund removal of the gazebo. It could be stored elsewhere.

Brian Hennessy leads a demonstration of equipment used in fire training at the Maritime Institute in Everett, Washington on Wednesday, May 22, 2024. (Annie Barker / The Herald)
‘Ready to go full sail’: Maritime Institute embarks at Port of Everett

The training facility offers Coast Guard-certified courses for recreational boaters and commercial vessel operators.

George Beard poses for a photo outside of the the Stanwood Library in Stanwood, Washington on Wednesday, May 8, 2024.  (Annie Barker / The Herald)
From sick to the streets: How an illness left a Stanwood man homeless

Medical bills wiped out George Beard’s savings. Left to heal in his car, he got sicker. Now, he’s desperate for housing. It could take years.

Logo for news use featuring Snohomish County, Washington. 220118
Lawsuit says Snohomish County deputies not justified in Sultan shooting

Two deputies repeatedly shot an unarmed Sultan man last year, body camera video shows. An internal investigation is pending.

An airplane is parked at Gate M9 on Tuesday, May 21, 2024 at O’Hare International Airport in Chicago, Illinois. (Jordan Hansen/The Herald)
Good luck to Memorial Day travelers: If you’re like me, you’ll need it

I spent a night in the Chicago airport. I wouldn’t recommend it — but with flight delays near an all-time high, you might want to pack a pillow.

toon
Editorial cartoons for Friday, May 24

A sketchy look at the news of the day.… Continue reading

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.