Spain agrees investment plan with Airbus in exchange for fewer job losses


© Reuters. Airbus employees protest against expected job cuts in Getafe

MADRID (Reuters) – Spain’s government on Thursday said it had agreed to a series of measures with Airbus (PA:) aimed at propping up the sector and averting job losses after a meeting between Prime Minister Pedro Sanchez and Airbus Chief Executive Guillaume Faury.

Included in the measures are a 185 million euro (167.1 million pounds) investment plan to be financed by the European Union recovery fund and a commitment from Spain to order several military aircraft.

In exchange Airbus said it would aim to minimize job cuts in Spain and find solutions for plants with lower workload, the government said in a statement.

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