Airport Journals
Airport Journals: "'Here are the facts; we've spent two years looking at public source documents in Europe, and we determined that net of repayment�the face value of the principal amount of those loans over the last 30 years�is about $15 billion, even if you count where payment has been made.'
Dole said applying a commercial rate of interest to that $15 billion is worth about $40 billion.
'That $40 billion is the subsidy associated with the launch aid,' he said. 'Then there's at least another $9.5 billion in additional subsidies in the form of debt forgiveness, equity infusions and infrastructure support; so we're looking upwards at about $50 billion in subsidies to Airbus that haven't been repaid.'"
Dole said applying a commercial rate of interest to that $15 billion is worth about $40 billion.
'That $40 billion is the subsidy associated with the launch aid,' he said. 'Then there's at least another $9.5 billion in additional subsidies in the form of debt forgiveness, equity infusions and infrastructure support; so we're looking upwards at about $50 billion in subsidies to Airbus that haven't been repaid.'"
posted by Tom Bucceri at 11:01 AM
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