EU failed to comply with Airbus subsidy rules - WTO

The World Trade Organisation ruled on Thursday that the European Union did not do enough to stop governments providing subsidies to plane manufacturer Airbus.

The US government praised the WTO decision, which is the latest in a long-running transatlantic dispute surrounding the France-based company.

Its main rival Boeing also said the decision was justified as the it had lost sales as a result of the preferential treatment given to Airbus. CEO Dennis Muilenburg thanked US authorities for aiding its fight against the EU's non-action on the subsidies.

"Today's historic ruling finally holds the EU and Airbus to account for their flouting of global trade rules," Muilenburg said.

"This long-awaited decision is a victory for fair trade worldwide and for US aerospace workers, in particular. We commend the administration, specifically the Office of the US Trade Representative, and the US Congress for their unwavering commitment to this matter and to enforcing global trade rules," he said.

The subsidies provided by the EU, Germany, France, the UK and Spain reportedly cost Boeing billions of dollars in lost revenue.

The tit-for-tat between the US and the European Union over the two planemakers stretches back to 2004, as both accused each other of illegally helping their own companies to get ahead.