SEOUL: Airbus has written to airline leaders to appeal for their backing in a trade dispute with rival Boeing, warning of higher aircraft prices and passenger fares if the United States and European Union descend into a tariff war.
The appeal was issued in a letter to several airline bosses meeting in Seoul where the International Air Transport Association has warned of the impact of broader global trade tensions, a person familiar with the issuance of the letter told Reuters.
The United States and Europe have been locked in a 15-year spat over mutual claims of illegal aid to plane giants.
US President Donald Trump threatened last month to impose tariffs on $11 billion of European goods including planes and their parts, prompting the European Union to propose a list of $20 billion worth of US imports it could hit in retaliation.
“If the tariffs are applied, the effects would include greatly increased costs to US and European airlines, aerospace suppliers and manufacturers,” Airbus sales chief Christian Scherer said in the text of the letter seen by Reuters.
It asked airlines to “urge Boeing to enter into the negotiations proposed by the EU and Airbus.”
Airbus and Boeing had no immediate comment.
It is the first time either company has sought to directly involve the airline industry in the dispute, which is the largest ever handled by the World Trade Organization.
US carrier Delta Air Lines has said it opposes the US tariff threats, saying they harm US interests.
Delegates at the IATA talks said airlines would weigh carefully whether to step directly into the aircraft dispute which has laid bare intense competition for plane orders and which has cost the warring parties tens of millions of dollars.
But IATA, which groups 290 airlines representing 82 percent of global traffic, is expected to express growing concerns about a worsening pattern of global trade tensions which has already depressed cargo business and threatens some passenger demand.
Airbus urges airlines to pressure Boeing over subsidy row
Airbus urges airlines to pressure Boeing over subsidy row
Closing Bell: Saudi main index closes in red at 10,847
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.
The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.
The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.
The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.
The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.
Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.
On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.
Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.
On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.
In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.
