• From The BBC:

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    Lord Mandelson: ”It is not a bail-out”
    The government is to give plane manufacturer Airbus up to £340m in loans for new projects, which is expected to secure 5,000 jobs.The investment, announced by Business Secretary Lord Mandelson on a visit to Airbus, will be in the design and development of the A350. It was welcomed by unions as a way of sustaining jobs at plants at Filton in Bristol and Broughton in North Wales. The investment is smaller than those made by France and Germany in the A350. France and Germany, the UK’s partners in the project have promised to invest 1.4bn euros ($2bn; £1.2bn) and 1.1bn euros respectively. ‘Good news’
    Of the jobs being secured in the UK, 1,200 are direct Airbus positions, while the remaining 3,800 are across the supply chain, the Department for Business, Innovation and Skills said. It was “excellent news” for the UK aerospace sector as a whole and for the British workers with…

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    Posted by Jon @ 2:15 pm

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