Airbus To Suffer Disruption in UK Export Credit

Airbus Group reported on Friday “certain inaccuracies” relating to UK export credit financing applications for customer airlines that could result in a disruption in funding. The European airframer said it has notified the relevant UK authorities of its findings.

“The group believes that although some export credit financing will be temporarily unavailable, the affected customers will be able to resume obtaining such financing or refinancing in the near future,” the company said in a written statement. “The group is cooperating with the relevant export credit agencies to resolve this issue as soon as possible.”

Airbus hasn’t identified the nature of the problem, but UK export financing accounts for only a small portion of its overall funding sources. It also draws funding from export credit agencies in France and Germany, the other countries in which it builds most of its components and assembles airplanes.