June 19, 2017 / 7:47 AM / a month ago

EU clears 377 million euros of French, German aid to Airbus X6

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FILE PHOTO: The logo of Airbus Group is seen on the company's headquarters building in Toulouse, Southwestern France, April 18, 2017.Regis Duvignau/File Photo

BRUSSELS (Reuters) - The European Commission on Monday approved 377 million euros of French and German support to Airbus Group to develop its new X6 heavy helicopter model, saying it would contribute to research and development in the bloc.

"The French and German support will stimulate considerable private investment in this project," European Commissioner Margrethe Vestager, in charge of competition policy, said in a statement. "The support will help bring a new generation of innovative heavy helicopters to the market, without causing undue distortions of competition."

The X6 is widely described as a successor to the Super Puma, a workhorse of the offshore oil industry.

Reporting by Alissa de Carbonnel

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