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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

(AIR)
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Delayed Quote. Delayed Euronext Paris - 08/16 11:35:00 am
123.02 EUR   +0.51%
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Airbus : German minister to discuss aircraft subsidies with USTR Lighthizer

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07/10/2019 | 08:00pm EDT
Germany's Economy Minister Peter Altmaier speaks to the media in Beijing

WASHINGTON (Reuters) - German Economy Minister Peter Altmaier said he would meet with U.S. Trade Representative Robert Lighthizer on Thursday to discuss efforts to settle a dispute over subsidies to U.S. planemaker Boeing and Europe's Airbus.

Speaking later at a think tank event, Altmaier said he would be open to eliminating all government subsidies to Airbus, as long as the United States was willing to do the same with Boeing.

"I could perfectly go along with ... we will no longer provide any subsidies on both sides. Then it is just competition and nothing else," he told an event hosted by the German Marshall Fund.

The World Trade Organization has found that both Boeing and Airbus, the world's two largest planemakers, have received billions of dollars of harmful or illegal government subsidies https://www.reuters.com/article/us-eu-usa-aircraft-wto/wto-says-us-failed-to-halt-state-tax-subsidy-for-boeing-idUSKCN1R923B to gain advantage in the global market.

The United States and the European Union have threatened to impose billions of dollars of tariffs on each other, with Washington first in line to seek tariffs under the WTO timetable.

"In our view it is in the interest of both sides to avoid these tit-for-tit tariffs," Altmaier told reporters earlier in the day.

The EU last week said it remained open to negotiations to settle the disputes "provided these are without preconditions and aim at a fair outcome."

Washington had signalled its openness last month to working on an enforceable mechanism to govern government subsidies for aircraft production, a move that could pave the way for resolving a dispute which has taken up thousands of pages of rulings over the last nearly 15 years.

Altmaier told reporters he had a "productive and constructive" meeting with U.S. Treasury Secretary Steven Mnuchin, and the two sides discussed how to reduce global tensions, ease trade disputes and maintain jobs in both Germany and the United States. He is due to meet with Commerce Secretary Wilbur Ross on Thursday.

Altmaier said it was positive that trade tensions between Europe and the United States had not spiked over the past year, since European Commission President Jean-Claude Juncker and U.S. President Donald Trump agreed to start talks. He said he thought it was possible to avoid escalation by tackling each of the many disputes on the table one by one.

Altmaier said he and Mnuchin discussed a range of issues including possibly boosting liquefied natural gas exports from the United States to Europe, sanctions against Iran and other countries, and prospects for intensifying cooperation on the issue of Ukraine and gas transfers.

"We are in the middle of intensive discussions. For me, the Americans remain partners and friends despite our disagreements," he said.

Altmaier cited great concern about recent developments in Iran and said Europe and the United States should work together to find ways to deescalate the situation.

All parties share an interest in ensuring that Iran returns to upholding the spirit and the letter of the 2015 nuclear agreement, he said. "Nothing else makes sense. Nothing else is in the interest of international stability," he said.

European powers accused Iran on Tuesday of "pursuing activities inconsistent with its commitments" under the deal and called for an urgent meeting of the parties to the agreement to discuss Tehran's compliance.

Britain, Germany, France, Russia, China and Iran are the remaining parties to the deal, known as the Joint Comprehensive Plan of Action, which was abandoned by the United States last year.

(Reporting by Andrea Shalal; Editing by Cynthia Osterman and Leslie Adler)

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.51% 123.02 Real-time Quote.46.52%
BOEING COMPANY (THE) 0.75% 330.45 Delayed Quote.1.71%
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Financials (EUR)
Sales 2019 70 381 M
EBIT 2019 6 963 M
Net income 2019 4 732 M
Finance 2019 14 745 M
Yield 2019 1,74%
P/E ratio 2019 20,3x
P/E ratio 2020 16,9x
EV / Sales2019 1,15x
EV / Sales2020 1,06x
Capitalization 95 648 M
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Mean consensus BUY
Number of Analysts 23
Average target price 144,00  €
Last Close Price 123,02  €
Spread / Highest target 34,9%
Spread / Average Target 17,1%
Spread / Lowest Target -10,6%
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Managers
NameTitle
Thomas Enders Chief Executive Officer & Executive Director
Denis Ranque Non-Executive Chairman
Harald Wilhelm Chief Financial Officer
Luc Hennekens Chief Information Officer
Grazia Vittadini Chief Technology Officer
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