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New French President Nicolas Sarkozy said May 18 that his government plans to sell its 15 percent stake in European Aeronautic Defence and Space Co. (EADS), the parent company of European aircraft manufacturer Airbus. Regardless of the reason for the announcement, or its timing, a French government withdrawal from the firm digs Airbus' grave.
While few dispute the A380, Airbus' soon-to-be flagship product, will revolutionize civilian jet travel, the A380 and nearly all other Airbus products could not have been made without massive government subsidies. Specifically, European states have guaranteed roughly $15 billion in "launch aid," largely in the form of low- or no-interest loans. For the A380 alone, that aid amounted to $4.2 billion.
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